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Tfr

English translation: Staff leaving indemnity

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:Trattamento di Fine Rapporto (Tfr)
English translation:Staff leaving indemnity

09:51 Oct 11, 2001
Italian to English translations [Non-PRO]
Bus/Financial
Italian term or phrase: Tfr
Operazione dhe forzera obbligatoriamente il travaso del Tfr nei fondi pensionistici privati. (re the ongoing pension reform in Italy)
Marion Marshrons
Staff leaving (or severance) indemnity
Explanation:
This is the term used by many accountants
Selected response from:

Peter Cox
Italy
Local time: 13:06
Grading comment
Many thanks to all who replied.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4Staff leaving (or severance) indemnity
Peter Cox
5separation bonus
JH Trads
5Employee Leaving Indemnity
Alison kennedy (X)
4TFR e licenziamenti
gianfranco


  

Answers


9 mins   confidence: Answerer confidence 5/5
separation bonus


Explanation:
Hi Marion,
Trattamento di Fine Rapporto, the lump-sum given by the company to someone who is "fired"
I hope it helps


    exp fin.
    Reference: http://www.cnr.berkeley.edu
JH Trads
United States
Local time: 07:06
Native speaker of: Native in SpanishSpanish, Native in FrenchFrench
PRO pts in pair: 286
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14 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
TFR e licenziamenti


Explanation:
in Italia, il TFR viene pagato a tutti coloro che hanno tale trattamento nel contratto di lavoro, che siano stati licenziati o che abbiano lasciato volontariamente il lavoro o vadano in pensione.
E' una parte della retribuzione, come la tredicesima mensilità o la paga per il lavoro straordinario.

ciao.GM

In Inghilterra non è molto comune, e non credo lo sia negli Stati Uniti.


gianfranco
Brazil
Local time: 08:06
Native speaker of: Native in ItalianItalian
PRO pts in pair: 538
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15 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
Staff leaving (or severance) indemnity


Explanation:
This is the term used by many accountants

Peter Cox
Italy
Local time: 13:06
Native speaker of: English
PRO pts in pair: 3459
Grading comment
Many thanks to all who replied.

Peer comments on this answer (and responses from the answerer)
agree  Derek Smith
7 mins
agree  kmaciel
17 mins
agree  CLS Lexi-tech: severance pay/benefits
2 hrs
agree  Barbara Cattaneo
14 hrs
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15 hrs   confidence: Answerer confidence 5/5
Employee Leaving Indemnity


Explanation:
Trattamento di fine rapporto. This are the reserve funds that employers allocate to a special fund called Leaving Indemnity that, up to the introduction of the new Pension Provision law, was paid to all employees leaving a company as a lump sum payment on which tax is paid. This is not severance pay which is part of the old syetem used by some public administrations. The new pension law requires TFR instead of being left in the company pockets ( infact it has always represented a free source of self financing for companies)to be allocated to a pension fund normally a closed occupational one (introduced three years ago), so that when an employee changes jobs, this amount remains with the pension fund and contributes towards providing supplementary pension benefit on retirement. The Employers aren't very happy about this as their free financing source has been taken away from them - hence all the bargaining between Confindustria and the Government - For giving up the TFR, employers receive tax relief equal to 3% of the TFR allocated to a pension fund. Peanuts for them.
There is also talk of the securisation of TFR -

The above definition was supplied to me by the Secretary of Abbey National in Italy who is a Chartered Account and Statutory Auditor with over 30 years in accountancy in Italy

Alison kennedy (X)
Local time: 13:06
PRO pts in pair: 285
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