SchneepatI originally posted this as a lone thread. It would probably do better here.There has been much talk about how the pension refund only applies to those with Canadian or US citizenship. Those from other countries were pretty much screwed. For the most part this is still true, but there have been recent developments for those carrying dual citizenship.I worked in Korea from 2002 until June of this year. My E2 visa was under my British passport. A few months before I left I had heard rumors that there were changes being made with the pension program. I also carry Canadian citizenship, so my school inquired about the possibility of getting my money back.Here's the process I went through to get my pension money back.The Pension office required proof of citizenship for both countries. For my British citizenship I provided my passport, my British birth certificate, as well as a document made up by the British consulate guaranteeing that my passport was authentic. The Pension office would prefer a British pension number, but that's something I don't have.For my Canadian citizenship I provided my Canadian passport, my social insurance number, and my Canadian naturalization papers.I also provided the Pension office with a Canadian bank account number for the transfer.Up until two months before leaving Korea I had assumed that all the money that had been put into this pension fund was gone. It was nice to get a fairly huge chunk of cash back.I did all of this at the Pension office in Bucheon. I know that my supervisor had to talk to a person fairly high up in the office about the whole procedure as the front desk personel didn't really know what to do. I hope that this information can help a few of you out there who have dual citizenship with getting your money back. If you have questions about the process, you can email me at schneepat@gmail.com.
Pension status for people who have dual citizenshipIf you have dual citizenship that includes a naturalized citizenship in US or Canada, you are eligible to receive a refund just as citizens of those countries. You will likely be asked to provide both passports and possibly your naturalization papers.
I went to the pension office last week and got the procedures from the lady who sits at the LUMP SUM Payout desk. I am America so this may be diff for other nationalites.1) When you leave your job, the employer (school) is required to report to the NPS that you are no longer employed. (Via a form they fax to NPS)2) The school has up until the 10th of the next month to send in the pension money that was withheld from your last paycheck. (ex. if your last pay check was Oct 15th. The school will send the pension money to NPS by Nov 10th.)3) You have to go the the NPS in your area and apply for the LUMP SUM refund: Bring invoice of plane ticket showing flight , ARC, passport, bank info of where you want the only to be sent.4) NPS will pay out the LUMP SUM after you leave the country. She said they will check with immigration via passport number to make sure you left the country.5) After NPS have your docs and the school's doc and they have verified that you left Korea, then they will release the money to your bank.
Quote from: barbbui on September 26, 2012, 02:15:21 pmI went to the pension office last week and got the procedures from the lady who sits at the LUMP SUM Payout desk. I am America so this may be diff for other nationalites.1) When you leave your job, the employer (school) is required to report to the NPS that you are no longer employed. (Via a form they fax to NPS)2) The school has up until the 10th of the next month to send in the pension money that was withheld from your last paycheck. (ex. if your last pay check was Oct 15th. The school will send the pension money to NPS by Nov 10th.)3) You have to go the the NPS in your area and apply for the LUMP SUM refund: Bring invoice of plane ticket showing flight , ARC, passport, bank info of where you want the only to be sent.4) NPS will pay out the LUMP SUM after you leave the country. She said they will check with immigration via passport number to make sure you left the country.5) After NPS have your docs and the school's doc and they have verified that you left Korea, then they will release the money to your bank.To which bank account?!
