Retirement Allowance

The entitlement for retirement allowance varies depending on whether the retirement is voluntary or imposed by the employer. The payments are triggered with a generation control when the contract end date is included in the pay period. Enter the contract end date in the Contract Data page in PeopleSoft HR.

Earning	Description
IND DEP RET	This earning is used to calculate voluntary retirement allowances.
IND MISE RET	This earning is used to calculate statutory retirement allowances.

Eligibility for this allowance depends on contract type and the reason for termination. The calculation of the allowance amount is dependent on the employee's labor agreement and category.

The following brackets are used to calculate the retirement allowance:

• IND BR DT SPEC.

• IND BR FIN CONT.

• IND BR DEP RET.

Note:

The bracket IND BR DEP RET retrieves the rule for calculating the voluntary retirement allowance IND DEP RET. The statutory retirement allowance, IND MISE RET, uses the same calculation rules and formulas as the severance allowance. It does not use the bracket IND BR DEP RET.