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Redundancy applications declined

14/07/2015 10:11
The number of pending applications for redundancy allowance dropped compared to last year, as a lower number of applications is submitted.

According to new figures from Social Security Services, at the end of May 2015 six thousand redundancy applications were pending, compared to 6.2 thousand applications in April 2015 and 7.4 thousand applications in May last year.

The competent departments are making intensive efforts since 2013 to accelerate the process of examining applications for redundancy, by recruiting temporary staff.

According to the data, applications submitted in May 2015 fell to 413 from 473 in April 2015 and 519 in May 2014.

A few days ago, the ministry announced that under examination are the applications submitted in July and August 2014. It is noted that there are a number of applications submitted earlier but their examination cannot be completed because employers have not yet sent the data requested.

As for the amount paid for redundant staff it reached €22.3 mn in the first five months of 2015 compared to €57.7 mn in the first five months of 2014, recording a decrease of 61.4%.

According to the data, in the first five months of the year 2903 applications were submitted in total while during the same period 2281 applications were approved.

It is noted that the applications approved or rejected in a particular month do not correspond to the applications submitted in the same month. Also, the amount does not match the year’s spending because it concerns applications approved in this year despite the issuance or not of a check or money order in the same year.

According to Social Insurance law, eligible for payment from the redundancy fund are the employees who were continuously employed by the same employer for 104 weeks before retirement age.