This report examines the extent and quantum of retrenchment benefits paid to local employees who were retrenched in 2017. The study is based on a survey covering 1,550 establishments which retrenched local employees in 2017. The survey took place between 23 January to 29 March 2018, with a response rate of 90%.
Key findings: The proportion of establishments which paid retrenchment benefits to eligible local employees remained high at 90% in 2017. The majority of establishments continued to pay retrenchment benefits based on employee’s service period with the establishment and this proportion has also increased, with better economic conditions. This meant 85% of retrenched locals were paid retrenchment benefits based on tenure, with the common pay-out rate being one month of salary per year of service.
For more key findings, please refer to the highlights of the report.
Released on: 19 September 2018
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