If you are about to retire after a long career with your company, it is important to keep up to date with the latest amendments to the Labor Code introduced at the end of 2020.
Especially for those with more than 10 years of experience in the same company, the changes in the conditions for receiving the so-called “six salaries” upon retirement are essential, BLITZ reported.
However, the process has its conditions and limitations. The benefit of six gross wages can be received only once, at the time of retirement.
It is important to pay attention to the details of the new regulation to avoid misunderstandings and to get the maximum benefits from this legal change.
These six retirement pay conditions provide greater security and recognition for workers’ long-term contributions.
Clarity on retirement pay
About the details and specific legal requirements, information is provided by Dr. Todor Kapitanov, expert in labor law and creator of the mywork platform, Plovdiv 24 reported.
With the changes to the Labor Code, introduced at the end of 2020, Bulgarian workers and employees acquired new rights and guarantees, especially in the event of termination of employment after acquiring the right to a pension for length of service and age.
The specific conditions relating to compensation in these circumstances constitute an important aspect of the modern employment law framework.
According to the legislation, the worker or employee who has acquired the right to a pension for length of service and age is entitled to compensation upon termination of the employment relationship, regardless of the reason for this termination.
It is important to note that this right is granted in addition to already existing forms of compensation.
Labor experience
If the worker has acquired the right to a pension and has worked for at least 10 years in the last 20 years with the same employer or in the same group of enterprises, the benefit increases significantly.
In this case, the worker is entitled to compensation in the amount of his gross remuneration for a period of 6 months. This mechanism aims to compensate the long-term commitment of the worker in the same work environment.
There is an exception regarding the frequency of benefits. According to the legal rules, the worker or employee can receive compensation only once upon termination of the employment relationship, when he has acquired the right to a pension.
An act of the Council of Ministers, a collective labor agreement or the employment contract may provide for compensation for a longer period.
In practice, the question of whether a worker should receive a retirement benefit when holding two jobs is a matter of honest deliberation.
As it became clear, according to the labor law, the benefit is paid only once, which raises a logical question for workers with multiple work commitments.
Work in 2 places
In cases where the worker is employed in two places, the retirement benefit can only be obtained upon termination of the main employment contract, if at the time of termination he meets the condition for the right to a pension for length of service and age.
For the second employment contract, there is no legal basis for the payment of this compensation upon termination of the legal relationship.
The changes to the Labor Code, which refer to benefits upon termination of employment relationships after acquiring the right to a pension, represent an important step towards a more modern and fair labor legislation.
These rules affirm respect for the long-term work and commitment of workers, creating a balanced and fair legal regime. At the same time, they impose limitations and certain conditions, which are important to be carefully studied and understood by all interested parties in the employment relationship.
Reference:
Art. 222, para. 3 of the Labor Code
Art. 228, para. 2 of the Labor Code
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