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Safeguarding Your Rights During Employment Termination

As you navigate the complexities of employment termination, be it due to layoffs, dismissal, or resignation, knowing your rights is crucial. From obtaining employment confirmation letters to ensuring all pension deposits are complete, our guide provides a step-by-step approach to ensure you're protected

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If you're facing termination due to reorganization changes, dismissal, or resignation, it's important to know your rights.

Here's what you need to do:

  1. Make sure to request a letter from your employer confirming your employment start and end dates. If you're being laid off, ask for the termination reason to be listed as "layoff" so you can claim unemployment benefits if applicable.

  2. Request letters to your study fund, pension, and severance funds confirming the release of any accumulated sums. Be sure to check if an additional payment for severance is required based on your employer's monthly contribution rates.

  3. Before your termination date, it's crucial to check your employer's deposits to your pension and severance funds to ensure everything has been completed in full.

  4. Don't forget to obtain and sign the 161 Form provided by your employer, which is necessary for withdrawing severance payment and claiming tax benefits.

  5. If you have equity compensation, keep in mind that it will continue to vest during the notice period unless your relationship with the company is terminated immediately. If you plan to exercise your options, you usually have 90 days to do so. Otherwise, all vested and unexercised options will expire.

Our office accompanies hundreds of senior employees in hearing procedures and separation agreements.

We’re here to provide you with any assistance and guidance you may need.

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