What is the interim settlement of severance pay?
Retirement allowance refers to the salary received at the time of final termination of work at the company or company to which it belongs, that is, at the time of retirement. In accordance with the Labor Standards Act, companies and workers will be accumulated during the service period, which is a system aimed at preparing for possible economic problems after retirement.
What is interim settlement?
The interim settlement of severance pay means receiving severance pay in advance when a worker has not retired from retirement.
However, the interim settlement of such severance pay is not always settled at the request of the worker. In other words, intermediate settlement can proceed in a situation where certain conditions are satisfied.
In addition, an employee may request an employer-business to do so for reasons that may require interim settlement, but it is not necessarily the employer’s consent and performance.
Reasons/requirements for interim settlement
1) When purchasing a house under one’s name,
When a homeless worker buys a house,
Regardless of whether household members own a house or not
Determining the criteria for the worker’s own name
The joint name of the couple is also judged in the name of the worker himself
There is no house under the original name as of the date of application for interim settlement
Check based on the application date for interim settlement even if you own an existing house
2) a deposit / deposit
It must be a deposit or deposit for the purpose of a worker’s residence
Including lease deposit and monthly rent guarantee
Interim settlement can be requested even if the contract is extended
under one’s own name
However, in the case of a contract under the name of a household member, it is possible to prove his/her residence by subsequent transfer report
3) If you need medical care / medical expenses for more than 6 months,
Medical expenses incurred can be requested if they exceed 0.125% of the annual salary
Subjected to oneself/spouse/dependant
4) debtor rehabilitation
If an individual rehabilitation procedure is decided or declared bankrupt in the name of a worker within five years as of the date of application for interim settlement of severance pay, it is possible to request interim settlement of severance pay
5) wage peak system
In the case of implementing a system to reduce wages, such as the wage peak system, it is possible to request interim settlement of severance pay
6) the occurrence of various disasters
Where residential facilities are lost, disseminated, or halved due to a disaster;
If a disaster because of a missing family to support.
If damaged in the hospital needs of the more than 15 days from disaster.
The request for interim settlement of severance pay may be requested by the employee to the employer-business operator only in the above cases. Only the choice of operator acceptance is for the request as mentioned earlier.