There will be many cases where you need urgent money in your life. Among them, there are many cases where a large amount of money has to be spent on new books, moving, or congratulatory events to do business.
Today, I will post about the requirements for interim settlement of severance pay and necessary documents for those who work at the company.
What is severance pay?
Workers have severance pay incurred when they have worked at a company for more than a year, which refers to a temporary payment paid by the employer at the end of the labor relationship when they retire after working for a considerable period of time. Also, the severance pay is divided into a lump sum payment and a retirement pension. The employer accumulates funds to be paid as retirement benefits to financial institutions, and the employee pays the reserves as a pension or lump sum upon retirement. The biggest difference between severance pay and retirement pension is whether the employer directly owns the amount or leaves it to an outside financial institution
Retirement payment criteria
If a worker works for more than one year, the minimum standard is to pay the average wage for more than 30 days as severance pay, and the standard is to work more than 15 hours a week, and the standard is to pay more than one year (regular working hours). Average wage is the sum of all wages paid to workers in the previous three months divided by the total date of the period.
Requirements for interim settlement of severance pay
You can receive the interim settlement of severance pay every time you apply, but it is possible only if you meet the conditions. Also, don’t forget that workers should not lose their certificates until five years after retirement
1. In the case of wage reduction in accordance with the wage peak system, etc
2. In the case of receiving a decision to declare bankruptcy or commence personal rehabilitation procedures within the last five years
3. If a homeless worker needs a lease fund,
4. Purchase a house under your name
– Recognized even when purchasing under the joint name of a married couple
– Homeless person: There must be no house under his/her name as of the new date of interim settlement, and even if a household member owns a house, he/she is recognized as a homeless person
5. When the dependent or the person himself or herself has recuperated for more than 6 months,
– immediate descendants over 60 years of age
– A direct descendant or cohabitant adoptee under the age of 20
-Brothers and sisters under the age of 20 or over 60 are also included in the dependents.
However, this system is not a legal system, so the company may reject it.
Preparation documents for each reason for interim settlement of severance pay
1. In the case of wage reduction in accordance with the wage peak system, etc
Application from the date of application of the wage peak system
– Certificate of wage peak system implementation
– Labor contract
– Certificate of application of wage peak system, such as salary statement
2. In the case of receiving a decision to declare bankruptcy or commence personal rehabilitation procedures within the last five years
– Applications within 5 years prior to the application date for interim settlement
– Court bankruptcy sentence Decisions on the commencement of individual rehabilitation proceedings or final certification sources
3. If a homeless worker needs a lease fund,
Application within one month after the balance payment date from the date of writing the housing lease contract
– Copy of resident registration
– Certificate of taxation of property tax, such as a copy of the current residence register or a building management register
– Copy of the lease and lease agreement
– Receipt of payment when a lease deposit or lease deposit is paid upon application after payment of the balance
4. Purchase a house under your name
Application within one month after registration of ownership transfer from the date of the housing purchase contract
– Copy of resident registration
– A copy of the building registration of the current residence
– Certificate of taxation of property tax
– A sales contract, a copy, or a building design and a construction contract to confirm the purchase of a house, such as a building management register
5. When the dependent or the person himself or herself has recuperated for more than 6 months,
Applications can be made if they are being cured or scheduled to be cured due to injury or illness at the time of application, and if medical treatment is completed, application is made within one month from the end of medical treatment
– Findings or medical certificates
– Documents that can prove the need for medical care for at least 6 months, such as a certificate of long-term care of the National Health Insurance Corporation
– Certificate of completion of medical care and payment of hospital bills when medical care is completed
I also submitted a document regarding the lease payment and received it before The disadvantage is that if you pay based on your salary at the time, there will be a loss when your salary increases in the future.
Please refer to this point and I will finish posting about whether the interim settlement of severance pay is possible.