Severance Pay Rights: Who Qualifies and What You Get
Learn if you are entitled to a payout following dismissal and how to protect your rights when signing your final documents.
Severance pay is a financial payment you may be entitled to receive if your employment is terminated under specific circumstances.
Who it's for
This protection is designed for employees who find themselves dismissed from their roles. Specifically, it applies to those who are dismissed for objective reasons or for disciplinary reasons.
What you get
If you qualify, you are entitled to an indemnity. The amount of this payment depends on the specific type of dismissal you are experiencing. The compensation is calculated based on a set number of days of salary, ranging from 20 to 33 days.
What it costs you
To finalize your departure and receive your final settlement, you will be required to sign a document known as the 'finiquito'. This document serves as the formal record of your final payments and terms of termination.
The catch to know
The most important thing to remember is how you sign your documents. If you believe the dismissal terms or the calculated amount are incorrect, do not simply sign your name. You should write "no conforme" (which means "not in agreement") alongside your signature. This action helps protect your right to dispute the terms later.
How to apply
- Confirm whether your dismissal is for objective or disciplinary reasons.
- Check the indemnity amount offered against the specific type of dismissal.
- Carefully review the 'finiquito' document for any errors in your final pay.
- Sign the document, ensuring you write "no conforme" if you do not agree with the terms.