s.47Retirement/resignation allowance
47
Section 47Part 6 — Retirement/resignation Allowance

Retirement/resignation allowance

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An employee other than a person specified in paragraph (b) of section 25(2) of the National Pensions Act (2012 Revision) and who —
has worked with that person's employer for a period of one year or more;
voluntarily retires or resigns from such employment; and
is not entitled to a pension under the National Pensions Act (2012 Revision),
shall be paid by the employer in addition to any other allowance or monies to which that person is otherwise entitled a retirement/resignation allowance equal to one week's wages, at the employee's latest basic wage, for each completed twelve month period of that person's employment with that person's employer.
In the case of a part time employee that person's entitlement to a retirement/resignation allowance shall be calculated on the basis of the ratio that that person's actual hours of employment bear to the standard work week.

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