Section 1: Cash compensation
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
1. Cash compensation
The cash compensation shall be the product of—
N × F × W
where N: is the number of years of service on the day the Minister approves
a VRS or an ERS and includes a proportion for any uncompleted
year;
F: is the number of months of compensation payable per year of service and shall be determined from the scale given in Table I below;
W: is the basic wage or basic salary applicable on the day that the
Minister approves a VRS or an ERS.
TABLE I: DETERMINATION OF F
Category of employees No. of months per year of service
(a) Female agricultural or non- 2.0
agricultural worker—
(i) of the age of 45 or over; or
(ii) reckoning not less than 25 years
of service
(b) Male agricultural or non-agricultural 2.0
worker—
(i) of the age of 50 or over; or
(ii) reckoning not less than 30 years
of service
All other cases including staff 1.5