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19:01 Nov 2, 2008
This question was closed without grading. Reason: Other
Dutch to English translations [PRO] Law/Patents - Law: Contract(s) / golden handshake
Dutch term or phrase:stamrecht
Mijn vraag heeft betrekking op een ontbonden arbeidsovereenkomst, waarbij de rechter aan X een ontbindingsvergoeding heeft toegewezen, welke X wenst aan te wenden in een stamrecht.
Een stamrecht is een recht waarbij de toegekende vergoeding uit gedwongen dan wel vrijwillig ontslag (gouden handdruk) periodiek wordt uitgekeerd aan de rechthebbende, in plaats van ineens (dit heeft in Nederland fiscale voordelen).
the means of converting a lumpsum golden handshake to periodical payments to avoid Dutch taxation
Explanation: See reference material provided in the "refences" section. This is not a translation but an attempt at rendering the concept into English.
-------------------------------------------------- Note added at 3 hrs (2008-11-02 22:29:46 GMT) --------------------------------------------------
"references", sorry. Typo.
Textpertise United Kingdom Local time: 15:47 Specializes in field Native speaker of: English PRO pts in category: 37
Notes to answerer
Asker: Thanks, Textpertise. I understand the concept, I know it's similar to but not quite the same as an annuity (cf. my own references), and before laying my neck under the Kudoz guillotine, I did extensive Google research on golden handshakes in the UK. Thanks again for your help, however, greatly appreciated!
Explanation: This is just a suggestion which in a way describes the meaning of the word 'stamrecht' which doesn't exist in English, unless you want to use the 'golden handshake', which wouldn't be quite accurate in the context of your text.
I have been reading up on this and have done some research and now that I know whát it is I suggest to call it a severance annuity, because the golden handshake is really severance pay, but because it isn't paid in a lump sum, the employer buys the (stamrecht) insurance to have it paid out monthly to the former employee.
I hope it helps you :-)
Maria Ramon United States Local time: 10:47 Works in field Native speaker of: English, Dutch
Notes to answerer
Asker: Thanks so much for putting time into this, Maria; however, the client decided to go with the translation from the dictionary.
Reference information: stamrecht
standing right entitling to periodical payments
annuity right [right to recurring payments in the form of an annuity]
writeaway Specializes in field Native speaker of: English PRO pts in category: 103
Note to reference poster
Asker: Thanks a mill!
Asker: @ Christoph V: not in my Van Dale, but thanks anyway.
Reference: No English equivalent exists
Reference information: The first reference below gives a rundown on "golden handshakes" in the UK and ways of avoiding taxation on them. You will see that the "periodical payments" route is not an option, as the UK Inland Revenue are pretty harsh in this respect.
The second reference below explains fully what stamrecht is in Dutch and how it operates. When you are on the main page, you need to click the item in the left column headed stamrechtverzekering. This will then give you a very full explanation of the provisions of stamrecht and how it works. However, this is a Dutch provision which does not translate to UK law. The stamrecht is not an annuity. One can acquire an annuity through one's stamrecht but it is not the same.
Nearest explanation is "the fiscal means of converting a lumpsum payment into periodical payments" (and the implication is that it is for the purpose of avoiding tax).