Join John Adams, world renowned Intl Matchmaker, Monday nights 8:30 EST for Live Webcasts!
And check out Five Reasons why you should attend a FREE AFA Seminar! See locations and dates here.



View Active Topics       View Your Posts       Latest 100 Topics       FAQ Topics       Switch to Mobile


Pension

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

Moderators: fschmidt, jamesbond

Pension

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

Do english teachers in China or S Korea get a pension plan?
Chrissays
Freshman Poster
 
Posts: 67
Joined: December 24th, 2014, 2:00 am





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.
User avatar
Cornfed
Elite Upper Class Poster
 
Posts: 5500
Joined: August 17th, 2012, 5:22 am


Return to Working, Studying and Making A Living Abroad

Who is online

Users browsing this forum: Majestic-12 [Bot] and 2 guests