Superannuation / Pension for Teachers Abroad

[Niko]

Retirement Planning

One of the problems of teaching overseas is the lack of payments into a superannuation fund. It will depend on both the country and school to whether or not you receive any type of superannuation payments.

You need to consider your retirement, no matter what age you are. If you are teaching in a country where you get no superannuation payments, then be sure to make regular deposits to a private superannuation fund. These can be setup quite easily in your own country and they offer quite a number of tax benefits. Often known as DIY Super Funds.

Sure, the hourly rate for teaching may be good. But, have you considered the total package? After 5 years teaching abroad, will you be better off than had you spent those 5 years teaching in your home country?

Korea is one of the few countries where a teacher can take their superannuation payments with them when leaving the country. In Japan, it's called the pension system, and you cannot depend on getting any sort of payments, unless you plan to work for the same school till retirement.

Teachers need to realise, that if you are teaching overseas, then be sure to have some sort of retirement plan that you can rely on.