Transitional payment (transitional allowance; severance package; tansition money)

Payment received from the employer by employees leaving the service. – Under German social law, a benefit paid to insured persons who, as a result of an insured event, receive payments for participation in working life or for economic security during the period of a rehabilitation program; see § 49 SGB. – A sum of money which an employee receives when he or she leaves employment at a company. – In particular, a payment to departing members of the German Bundestag with the aim of enabling them to return to their traditional occupation or to take up a new occupation. – See severance pay, severance allowance, dismissal allowance, table allowance, bridging allowance.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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