Bundang Pension Office

UPDATED: 04/17/2017

Last week I went to cash out my pension as a lump-sum payment. The process was pretty painless but I thought I’d detail it here for those who need the information.

——————————–

Editor’s note: You will need the following documents and information:

  • A one-way ticket out of Korea
  • Your ARC and passport (or at least a photo of your passport’s information page)
  • For those wishing to have the money transferred to a bank account in their home country, a bank statement or canceled check to prove ownership of the account
  • Account number, bank routing number, and SWIFT code (if possible)

You can also have the money deposited into a Korean bank account, for which you’ll need a bank book.

———————————-

If you live in Bundang, the pension office is in Yatap. Take exit 4 from the subway station, cross the street, and turn left at the Home Plus/CGV building.

You’ll see signs like this along the way:

Walk a few blocks down to the Korea Design Building.

Once in the building, find an elevator and go to the 4th floor, then follow the signs to the NPS office. Go to the desk that says “lump sum payment”.  Take a number from the machine near the door. You’ll select “lump sum payment.” If an attendant asks why you’re there, just say “I want a pension refund.”

You need to bring your passport, ARC, American bank account information (including branch address and routing number), and plane ticket out of Korea. (I don’t have an ARC anymore since I canceled my teaching visa in January and unfortunately I didn’t have my ARC number on me either. They informed me that without it I wouldn’t be able to get my money! Luckily I called Daniel who searched my email and found the number. Yay!) The money is deposited in your bank account approximately one month later.

Advertisements

5 Comments

Filed under Bureacracy Now!

5 responses to “Bundang Pension Office

  1. Derek

    I made the error of asking for directions on the ‘Jobs in Bundang’ FB group. It was like asking for no mayo on my pizza.

  2. Andrew

    Thank you Jen!

  3. Thank you for sharing the directions for the pension office. It helped me a lot. I also blog and would love to link my post about my pension experiences with yours. (I dont really plan on writing about how to get there.) Please let me know if you do not want this post to be linked with my blog.
    ~ Thanks again!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s