Just curious what kind of Severance Packages have been offered in the past...
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Has it been a practice to bridge to age 62 in the past? I’ve heard of bridging to 55, but not to 62.
in 2013 4 years salary was paid as a lump sum in Pepsico Europe to finance employees who had been so kind and loyal first to work day and night in a 2 years project to deliver the big SAP transition before beeing made redundant by outsourcing only 6 months after to a big outsourcing project to India and Poland , after beeing forced of course to first deliver their know how and procedures to consultants of the outsourcing company. Style of the communication : one by one , you can not say goodbye to your colleagues , "here is your money , Pepsico has decided , bye "
My pension was frozen many, many years ago.
Very accurate depiction of bridging benefit offered for those not attaining early retirement age of 55. For those who have, and have not attained full un-reduced pension retirement age of 62 and not offered similar bridging this could be considered, in legal terms, "disparate treatment". Look it up and make sure you consult with your attorney.
Normal severance has been 2 weeks per year of service, plus outplacement help, job coaching etc. Plus, there have been people "bridged" to their early retirement year of 55. This is a huge benefit as the pension value changes by well over 50% if you make 55 yrs old before quitting or being re-orged. Example - some quits at 54yrs and 364 days, their pension value may be $300,000. If that same person quits at 55yrs old, their pension value may be $1,000,000.