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Early Retirement Termination and Benefits

Cathy  
Guest
Thu, 16 Oct 2008 03:45:00 PM  (Last updated: Fri, 17 Oct 2008 04:08:44 PM)

Dear KL Siew,

My despatch has been working with the company for almost 24 years with the current drawn of 2k per month (quite "an expensive" despatch!) On top of that he also have fixed amount of monthly mileage claim (RM180) if he has to travel out of Klang Valley then he will claimed extra mileage. Since last year, he is getting less despatch work to do thus, he has been assigned to do some of the office cleaning works too. And a letter of his additional tasks was agreed and signed by him. Lat

KL Siew
Guest
Thu, 16 Oct 2008 04:58:40 PM

If you want to follow the Employment (Termination and Layoff Benefits) Regulations, the benefit will be 20 days salary for every year of service. In his case, the payment will be (2180 x 12/365)x20x24=34402.19. After settling the benefit, he may enter into a new contract of employment.

Cathy
Guest
Fri, 17 Oct 2008 12:08:48 PM

I heard that there is another way of compensate him back based on the number of years to his retirement age of 55 ? Which mean he has 11 years to reach that age. So if we use that 11 years to calculate for his termination, can we use the same formulas too?

Sorry have to trouble you again as I didn't find any infor. on this.

KL Siew
Administrator
Fri, 17 Oct 2008 02:00:49 PM

Sorry, I have never heard of such a benefit.

Cathy
Guest
Fri, 17 Oct 2008 04:08:44 PM

Dear KL Siew,

Thanks for your prompt reply. Ok, I will informed my boss about that.

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