BU354 Lecture Notes - Lecture 13: Elderly Care, Palliative Care, Defined Benefit Pension Plan
Document Summary
Employee beneits indirect inancial payments given to employees. They may include supplementary health insurance, vacaion, pension plans, educaion plans, and discounts on company products: cost of employee beneits is on the rise as the majority of the workforce ages and enters reirement. Employers and employees provide funding for these plans, along with general tax revenues. Pay on terminaion of employment: employment standards legislaion requires that employees whose employment is being terminated by the employer be provided with terminaion pay when they leave, reasonable advance noice periods. An employee must be provided with advance writen noice if the employer is going to terminate his or her employment, unless the employee is working on a short-term contract or is being ired for just cause. Pay in lieu of reasonable noice a lump-sum to an employee"s pay for the noice period provided to employees who cease working immediately: severance pay:
