Retrenchment benefit

[doublechin38]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

 

[eeoror88]

If it is a small company, she can wait long long !!

 

[Microsoft]

Read dish...

http://www.mom.gov.sg/publish/mompo...tandards/the_employment_act/Retrenchment.html

Retrenchment Benefits

Under the Employment Act, an employee who has been employed in a company for at least three years can request for retrenchment benefits if he/she is retrenched.

As the law does not stipulate the quantum to be paid, the amount is subject to negotiation between the employee and employer. The quantum will also depend on the company's financial position.

An employee who has worked less than three years in a company is not entitled to retrenchment benefits under the Employment Act. However, the company may pay an ex-gratia payment at its discretion.

Both retrenchment benefits and ex-gratia payments do not attract CPF contributions.

 

[myfoot123]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

Unless there is a company policies handbook attached to the contract stating the obvious terms and conditions. How much an organisation wants to compensate is not an obligation but out of good will.

 

[0939]

Check on her employment letter, whether it was stated. Chances are half month for one year. Lucky if one month per year.

 

[halsey02]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

see
http://www.mom.gov.sg/publish/mompo...dards/the_employment_act/Retrenchment.html#rb

 

[kaipoh]

LSY got $3.0 mil from telcom before retrench , how can Mdm Ho get lesser. wayang again wtf

 

[Cestbon]

When retrenchment fever 1st started in 1997 the package for big MNC retrenchment benefit average is about 1.5month pay/year of service. Few years ago benefit slowly reduce to 1 month pay/1 year of service.
For current situation more likely will be less than 1 month pay/year. Maybe will be half month pay/1 year. Or worst is none if company bankrupt.

 

[Satan]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

Depends on the company. I remembered my company when it closed down its factory, it had to retrench the staff. The staff were paid about 1month for each year of service. Get your wife to go through her employment letter. If nothing is mentioned in the letter, then I guess employment law will come in. Check with MOM in that case.

 

[singveld]

no laws to state they must give compensation

so if they gave nothing, there is nothing you can do.

it is much the same even in EU, USA etc.

 

[scroobal]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

Employees entitled to retrenchment after 3 years of service but quantum not specified. Good companies 1mth or more for each year of service. Most companies 0.5. There is always a cap - 10 years, 5 years etc.

No company mentions retrenchment in the job agreement or appointment letter. I will be surprised if a company does.

 

[VIBGYOR]

Hi

My wife working for her company for 5 yrs, and there is talk of retrenchment.

Is retrenchment benefit of one month's pay for one year 's service an entitlement?

and what are the usual benefits if any?

any recourse?

thx

CHINA IS DA BEST!

IF YOU WORK FOR 30 YEARS IN THE SAME CO, COMMUNIST MAH, CANNOT ANYHOW CHANGE JOBS, AND YOU KENA RETRENCHED, YOU GET 30 YEARS x MONTHLY PAY. THAT AMOUNTS TO FEW HUNDRED THOUSANDS RMBs.

ON TOP OF THAT, YOU GET PENSIONS AND MEDICAL BENEFITS PROVIDED BY THE STATE, INCREMENTING EVERY YEAR.

SHIOK RIGHT!