How is cessantia (severance pay) lump sum calculated?
12-07-2016 15:27 , Charonne Holder
The Severance pay lump sum is calculated as follows:
- 1 week wage per year of service, for the first until the tenth full year of service.
- 1 ¼ weeks wage per year of service, for the eleventh until the twentieth full year of service.
- 2 weeks wages per year of service, for the subsequent full years of service.
Note: A period of more than six months after the first year of service is considered a full year of service.
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