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butlerian
Joined: 04 Sep 2006
Location: Korea
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 Posted: Mon Sep 15, 2008 3:45 am Post subject: Severance pay - when is it available? |
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In my previous jobs in Korea, I've always received my severance pay at the end of every year, regardless of renewal. At my current job, the policy is to withhold the severance pay until the FINAL contract is completed, whenever that may be. Is this legal? I'd rather receive my severance pay year-by-year - after all, every year I have to sign a new contract - rather than receive one big lump sum at the end.
Last edited by butlerian on Mon Sep 15, 2008 3:58 am; edited 1 time in total |
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bundangbabo
Joined: 01 Jun 2008
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| Posted: Mon Sep 15, 2008 3:48 am Post subject: |
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| Hows life going my man? Are you married now? |
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butlerian
Joined: 04 Sep 2006
Location: Korea
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| Posted: Mon Sep 15, 2008 3:59 am Post subject: |
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| bundangbabo wrote: |
| Hows life going my man? Are you married now? |
No, man. Far too much spam around for that kind of complicated stuff. |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Mon Sep 15, 2008 4:37 am Post subject: |
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End of each contract. Don't let them pull the wool over your eyes.
Too much spam going around? What is it exactly that you do with the spam? |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Mon Sep 15, 2008 5:27 am Post subject: |
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| ttompatz once said it was law they had to give it after each year if you request it, but also said big organizations that don't give it each year (SMOE was an example) get away with it. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Mon Sep 15, 2008 7:27 am Post subject: |
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| Bibbitybop wrote: |
| ttompatz once said it was law they had to give it after each year if you request it, but also said big organizations that don't give it each year (SMOE was an example) get away with it. |
The law says you get it when you finish. Receiving it annually is up to your negotiation or your employer's discretion. Waiting it out can be advantageous -- its based on your last rate of pay. |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Mon Sep 15, 2008 5:46 pm Post subject: |
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| schwa wrote: |
| Waiting it out can be advantageous -- its based on your last rate of pay. |
True, but the interest I could collect (or pay off) is enough for me to want it each year. |
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butlerian
Joined: 04 Sep 2006
Location: Korea
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| Posted: Tue Sep 16, 2008 6:23 pm Post subject: |
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| No-one is sure about this, then? |
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