Receiving milestone bonuses are possible upon reaching retirement as well as both milestone birthdays of 50 and 60.
a) Reaching the age of 50 - up to 30% of the monthly wage tariff
b) Reaching the age of 60 - up to 50% of the monthly wage tariff
c) The first termination of employment after acquiring entitlement to a full invalidity or retirement pension - up to 100% of the monthly wage tariff.
When suggesting the amount of the Milestone Bonus, the length of service with the employer and the quality of work tasks will be taken into account.
The Milestone Bonus is paid at the earliest in the payment period for the month in which the employee's jubilee was reached, and no later than in the payment for the month of December of the calendar year in which the jubilee was reached (a,b) or at the earliest in the payment period for the month in which the employee's employment ended (c).
A milestone bonus can be awarded to an employee whose employment with the employer has lasted continuously for at least 36 calendar months.
For more information please see the Wage Regulation