Can a retirement pension subscriber (E-9) not receive the difference i…

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  • 03-08
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Can a retirement pension subscriber (E-9) not receive the difference in severance pay ?

Not long ago, Mr. N, a foreign worker (E-9), requested consultation regarding severance pay . Mr. N worked at workplace A in Gyeonggi- do and then changed his workplace to Gyeongnam . When he left the company , he requested payment of the difference in severance pay to workplace A , but it was rejected .

The reason is , “ At our company, both Koreans and foreigners are enrolled in a retirement pension (DC type - defined contribution type ) . Accordingly, in addition to paying departure maturity insurance ( 8.3% of monthly ordinary wage ) , foreigners also pay 8.3% of the difference with average wage as retirement pension every month . Therefore, only the amount accumulated in the retirement pension will be paid , and there is no obligation to pay any additional amount . ”

Is this really true ? 

In conclusion , Company A 's claim is based on the ' Act on Employment of Foreign Workers, etc. ( hereinafter referred to as the Foreign Employment Act ) ' .

 This is due to a lack of understanding .

Article 21 , Paragraph 3 of the Enforcement Decree of the Foreign Workers' Compensation Act states, “ If a foreign worker's employment relationship is terminated or his or her status of residence is changed, the employer shall determine that the amount of the lump sum payment, such as departure maturity insurance, is the amount of severance pay under Article 8 , Paragraph 1 of the 「Employee Retirement Benefit Security Act」 If it is less, the difference must be paid to the foreign worker . ”

Therefore, unlike general retirement pension subscribers , E-9 and H-2 workers subject to the Foreign Contribution Act must apply the general severance pay calculation method even if they are enrolled in a retirement pension , and employers must pay the difference that does not reach the amount. Payment must be made .

* Statutory severance pay = average daily wage × 30 days × ( number of days of employment / 365)

* Average daily wage = Total wages for the 3 months prior to the date of resignation ÷ Total number of days in that period

Severance pay composition for foreign workers (E-9, H-2) enrolled in retirement pension (DC type >

Departure maturity insurance

( 8.3% of regular monthly wage , received upon departure )

+

Lump sum retirement pension

( Received from participating financial institutions )

+

Difference in statutory severance pay

Business owner's obligation to pay )

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