# Severance Pay



## Patch66 (Nov 25, 2012)

Would appreciate if anyone has any indication on Severance Pay in Top Tier Investment Banks in Singapore, my job is moving to Singapore and I have to decide either to take it or accept Severance where I am now. I believe my job may not also last long in Singapore hence my question. Kind of thinking I should bail now whilst I know I will get a potentially bigger Severance Package. I'm thinking for Singapore it may be around - 1 month for every year + notice period + 1 or 2 months, ie 3 years Service = minumum 5 months severance ???...


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## simonsays (Feb 11, 2009)

Legally, as per MOM law, 1 month and off you go .. though individual company's policies are different

You should read up your company policy and hope they do pay a decent amount .. 

it is just a practice to pay 2 weeks to 1 month for every year of employment. Not enforceable unless you are earning less than 1,600 $ I think 

I am not a lawyer though

Talk nicely to your employer and see how it goes .. 

Good luck


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## Tas Burrfoot (Aug 4, 2012)

In Barclays Capital, it used to be 1.5 for every year of service...

How I wish I was made redundant!


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