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Pension

Discuss working and making a living overseas, starting a business, or studying abroad.

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Pension

Postby Chrissays » March 19th, 2015, 2:42 am

Do english teachers in China or S Korea get a pension plan?
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Re: Pension

Postby Cornfed » March 19th, 2015, 5:47 am

Chrissays wrote:Do english teachers in China or S Korea get a pension plan?

It depends on bilateral agreements between your country of origin and SK.

Edit: So that explains the mysterious $3k payment I got months after I left - my pension contributions returned. I always wondered about that.

Edit again: Unless you become a Korean citizen, as I understand it you are effectively giving an interest free loan to the SK government under the guise of pension contributions, which will be reimbursed to you when you leave, if you are lucky. I never really concerned myself with it, since there was nothing I could do about it. You do however get a good health insurance plan, or at least you should.
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