Process documentationRetirement Liquidation

 

In retirement liquidation solution, you use the next period liquidation with YEA to reconcile the amount that should be paid out or deducted for the retired employee.

If you activate Rehiring following Retirement, you can pay out the overtime allowance and deduct the social insurance for the period in which the employee leaves the company. To do so, you use correction run (payroll reason 0013 or 0014) that can replace the function of retirement liquidation for the next period.

Prerequisites

You must have completed Action Retirement for the employee in question.

Process

You process the retirement liquidation as below regardless of the activation of Rehiring following Retirement.

  1. Retirement Liquidation for the Current Period, then perform

  2. Retirement Liquidation for the Next Period.

Note Note

You do not have to perform Retirement Liquidation for the Current Period if the monthly payroll for the current period is already completed for the employee in question.

End of the note.

If you activate Rehiring following Retirement, you also can use the correction payroll run to process the retirement liquidation :

  1. Retirement Liquidation for the Current Period, then perform

  2. Retirement Liquidation Correction

  • Retirement Liquidation for the Current Period

  • Retirement Liquidation for the Next Period

Result

In the Retirement Liquidation for the Next Period, the system processes the payments and deductions relevant to unpaid portions of the monthly payment, while in the Retirement Liquidation for the Current Period processes the monthly payroll quite normally.

In case a employee retired BEFORE Payroll Calculation for Current Period.

In case a employee retired AFTER Payroll Calculation for Current Period.