Don’t forget your Korean pension money!
Today I was talking to an American friend of mine who is getting ready to leave Korea. I asked him if he had any uncollected pension money, and he said, “No.” When I asked if he was sure, he said, “Yes, the school took care of all of that.” That is when I knew that he did not check to see if he had any “National Pension” funds accumulated. He had worked at a couple of different jobs in Korea over the years.
I asked my friend for his residency card, called the National Pension Office (Phone number: 1355), and asked them if he had any pension funds accumulated. The person on the phone told me my friend had twelve months accumulated, which came to 2.8 million won. My friend was shocked when I told him because he almost gave 2.8 million won back to the Korean pension system. If you don’t collect it within a certain time period, you lose it.
If you have worked in Korea and are not sure if you have paid into Korea’s National Pension Fund, don’t take any chances; give them a call. If you can speak Korean, just call and ask them, or ask a Korean friend to call for you. The people there are very nice and helpful. They can tell you within one minute if you can get any money back.
Just call 1355 and wait through all the recorded messages for a person to answer your call. You might be as pleasantly surprised as my friend was.