ILO is a specialized agency of the United Nations
ILO-en-strap
Go to the home page
Site map | Contact us franšais | español
> GOVERNANCE - home > Employment protection legislation database - EPLex > Cyprus

Cyprus - Severance pay and redundancy payment


+ show references

Severance pay:
  • tenure ≥ 6 months: 0 month(s)
  • tenure ≥ 9 months: 0 month(s)
  • tenure ≥ 1 year: 0 month(s)
  • tenure ≥ 2 years: 0 month(s)
  • tenure ≥ 4 years: 0 month(s)
  • tenure ≥ 5 years: 0 month(s)
  • tenure ≥ 10 years: 0 month(s)
  • tenure ≥ 20 years: 0 month(s)
Redundancy payment:
Remarks:
  • Provided he has completed 104 weeks of continuous service, an employee who is dismissed on economic grounds is entitled to redundancy payments from the Redundancy Fund which is wholly financed by contributions from employers under the social insurance scheme. According to sec. 18 and the first schedule of the TEA, redundancy payment is calculated as follows:
    * 2 weeks' wages for each year of service up to four year;
    * 2,5 weeks' wages for each year of service from 5 to 10;
    * 3 weeks' wages for each year of service from 11 to 15;
    * 3,5 weeks' wages for each year of service from 16 to 20;
    * 4 weeks' wages for each year of service beyond 20 years.
    Redundancy payment is limited to 75,5 weeks' wages.
  • tenure ≥ 6 months: 0 week(s)
  • tenure ≥ 9 months: 0 week(s)
  • tenure ≥ 1 year: 0 week(s)
  • tenure ≥ 2 years: 4 week(s)
  • tenure ≥ 4 years: 8 week(s)
  • tenure ≥ 5 years: 10.5 week(s)
  • tenure ≥ 10 years: 23 week(s)
  • tenure ≥ 20 years: 55.5 week(s)

Notes / Remarks
1) Dismissal based on the employee's conduct or capacity: no statutory severance pay.
2) Economic dismissal: redundancy payment.

+ show references

Severance pay:
  • tenure ≥ 6 months: 0 month(s)
  • tenure ≥ 9 months: 0 month(s)
  • tenure ≥ 1 year: 0 month(s)
  • tenure ≥ 2 years: 0 month(s)
  • tenure ≥ 4 years: 0 month(s)
  • tenure ≥ 5 years: 0 month(s)
  • tenure ≥ 10 years: 0 month(s)
  • tenure ≥ 20 years: 0 month(s)
Redundancy payment:
Remarks:
  • Provided he has completed 104 weeks of continuous service, an employee who is dismissed on economic grounds is entitled to redundancy payments from the Redundancy Fund which is wholly financed by contributions from employers under the social insurance scheme. According to sec. 18 and the first schedule of the TEA, redundancy payment is calculated as follows:
    * 2 weeks' wages for each year of service up to four year;
    * 2,5 weeks' wages for each year of service from 5 to 10;
    * 3 weeks' wages for each year of service from 11 to 15;
    * 3,5 weeks' wages for each year of service from 16 to 20;
    * 4 weeks' wages for each year of service beyond 20 years.
    Redundancy payment is limited to 75,5 weeks' wages.
  • tenure ≥ 6 months: 0 week(s)
  • tenure ≥ 9 months: 0 week(s)
  • tenure ≥ 1 year: 0 week(s)
  • tenure ≥ 2 years: 4 week(s)
  • tenure ≥ 4 years: 8 week(s)
  • tenure ≥ 5 years: 10.5 week(s)
  • tenure ≥ 10 years: 23 week(s)
  • tenure ≥ 20 years: 55.5 week(s)

Notes / Remarks
1) Dismissal based on the employee's conduct or capacity: no statutory severance pay.
2) Economic dismissal: redundancy payment.

+ show references

Severance pay:
  • tenure ≥ 6 months: 0 month(s)
  • tenure ≥ 9 months: 0 month(s)
  • tenure ≥ 1 year: 0 month(s)
  • tenure ≥ 2 years: 0 month(s)
  • tenure ≥ 4 years: 0 month(s)
  • tenure ≥ 5 years: 0 month(s)
  • tenure ≥ 10 years: 0 month(s)
  • tenure ≥ 20 years: 0 month(s)
Redundancy payment:
Remarks:
  • Provided he has completed 104 weeks of continuous service, an employee who is dismissed on economic grounds is entitled to redundancy payments from the Redundancy Fund which is wholly financed by contributions from employers under the social insurance scheme. According to sec. 18 and the first schedule of the TEA, redundancy payment is calculated as follows:
    * 2 weeks' wages for each year of service up to four year;
    * 2,5 weeks' wages for each year of service from 5 to 10;
    * 3 weeks' wages for each year of service from 11 to 15;
    * 3,5 weeks' wages for each year of service from 16 to 20;
    * 4 weeks' wages for each year of service beyond 20 years.
    Redundancy payment is limited to 75,5 weeks' wages.
  • tenure ≥ 6 months: 0 week(s)
  • tenure ≥ 9 months: 0 week(s)
  • tenure ≥ 1 year: 0 week(s)
  • tenure ≥ 2 years: 4 week(s)
  • tenure ≥ 4 years: 8 week(s)
  • tenure ≥ 5 years: 10.5 week(s)
  • tenure ≥ 10 years: 23 week(s)
  • tenure ≥ 20 years: 55.5 week(s)

Notes / Remarks
1) Dismissal based on the employee's conduct or capacity: no statutory severance pay.
2) Economic dismissal: redundancy payment.

+ show references

Severance pay:
  • tenure ≥ 6 months: 0 month(s)
  • tenure ≥ 9 months: 0 month(s)
  • tenure ≥ 1 year: 0 month(s)
  • tenure ≥ 2 years: 0 month(s)
  • tenure ≥ 4 years: 0 month(s)
  • tenure ≥ 5 years: 0 month(s)
  • tenure ≥ 10 years: 0 month(s)
  • tenure ≥ 20 years: 0 month(s)
Redundancy payment:
Remarks:
  • Provided he has completed 104 weeks of continuous service, an employee who is dismissed on economic grounds is entitled to redundancy payments from the Redundancy Fund which is wholly financed by contributions from employers under the social insurance scheme. According to sec. 18 and the first schedule of the TEA, redundancy payment is calculated as follows:
    * 2 weeks' wages for each year of service up to four year;
    * 2,5 weeks' wages for each year of service from 5 to 10;
    * 3 weeks' wages for each year of service from 11 to 15;
    * 3,5 weeks' wages for each year of service from 16 to 20;
    * 4 weeks' wages for each year of service beyond 20 years.
    Redundancy payment is limited to 75,5 weeks' wages.
  • tenure ≥ 6 months: 0 week(s)
  • tenure ≥ 9 months: 0 week(s)
  • tenure ≥ 1 year: 0 week(s)
  • tenure ≥ 2 years: 4 week(s)
  • tenure ≥ 4 years: 8 week(s)
  • tenure ≥ 5 years: 10.5 week(s)
  • tenure ≥ 10 years: 23 week(s)
  • tenure ≥ 20 years: 55.5 week(s)

Notes / Remarks
1) Dismissal based on the employee's conduct or capacity: no statutory severance pay.
2) Economic dismissal: redundancy payment.