Eligibility Criteria
- More than 1 Year Service: Continuous employment period from join to resignation must be at least 1 year.
- 15+ Hours/Week: Average weekly working hours over a 4-week period must be 15 hours or more.
- Employee Status: Contract workers and part-timers are eligible if they meet the above conditions.
FAQ
Q. Can I get an interim settlement (mid-term withdrawal)?
In principle, interim settlement is prohibited. Exceptions exist for specific reasons like purchasing a home (for non-homeowners), medical care for 6+ months, etc.
Q. When must severance pay be paid?
Employers must pay severance within 14 days of retirement. The deadline can be extended by mutual agreement.