TFR Advance: Who Qualifies and What You Get
Learn if you can access your severance pay early to cover major expenses like medical bills or a new home.
The TFR Advance allows employees to access a portion of their accrued severance pay before they actually leave their job.
Who it's for
This is available to employees who have completed at least 8 years of service with their employer.
What you get
You can receive up to 70% of your accrued severance pay. This money is intended to help with specific major life needs, such as purchasing a home or covering medical expenses.
What it costs you
To access this money, you must provide official proof of the expense you are covering. You also need to obtain formal approval from your employer.
The catch to know
Even if you meet all the requirements, your employer has the right to deny your request if they have already reached their limit for the total number of requests allowed per year.
How to apply
- Gather official documentation that proves your specific need, such as a house purchase contract or medical bills.
- Submit a formal request to your employer.
- Wait for the employer to review your documentation and check their annual request quota.
- Follow your company's specific internal process for receiving the funds.