Unemployment Benefits

Unemployment Benefits

In accordance with the Pension Act, Workers who are unemployed for more than 6 months may withdraw a portion of their individual account balances (only their own contributions) prior to reaching the minimum retirement age. Permission for early payment of benefits is granted under specified conditions. 

For more information, refer to the section on severance pay. Apart from that no provisions on a scheme for unemployment benefits could be identified within the law.

Source: §65 of the Pension Act 2010

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