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avgångsbidragsförsäkring

English translation: private redundancy-pay insurance (UK); severance pay insurance (US)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:avgångsbidragsförsäkring
English translation:private redundancy-pay insurance (UK); severance pay insurance (US)
Entered by: Charlesp
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09:06 Nov 28, 2008
Swedish to English translations [PRO]
Bus/Financial - Insurance
Swedish term or phrase: avgångsbidragsförsäkring
a type of insurance of course; but how does the insurance industry in the UK refer to this?
Charlesp
Sweden
Local time: 17:35
private redundancy-pay insurance
Explanation:
Redundancy pay insurance take out privately: unlikely in the UK, though not impossible. Why? This is taken care of by a government agency called *National Insurance*.




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Note added at 2 days14 hrs (2008-11-30 23:18:53 GMT)
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Private insurance against unemployment in the UK takes the form only of 'living assurance' or 'dread diseases' medical insurance for the contingency of the assured/policy holder being taken out of circulation by e.g. a heart attack, stroke, accidental blindness etc.
Selected response from:

xxxAdrian MM.
Local time: 17:35
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
4private redundancy-pay insurancexxxAdrian MM.
4severance pay insurance
Cecelia Murphy


  

Answers


5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
severance pay insurance


Explanation:
When an employee is laid off, the company laying off is obliged to pay an amount equal to one month's salary (give or take a few).



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Note added at 5 hrs (2008-11-28 14:49:51 GMT)
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or 'insurance providing severance pay'

AVGÅNGSBIDRAG
SEVERANCE PAY (MANUAL WORKERS)

Compensation payable to manual workers who are made redundant or whose employment is terminated for reasons of ill health. There is no legislation on the matter in Sweden, but SAF member employers bound by collective agreements are under an obligation to take out labour market insurance for their manual worker employees, i.e. insurance providing severance pay, occupational group health insurance, occupational group life insurance and supplementary industrial injury insurance, which also covers white-collar workers. The eligibility criteria for severance pay vary according to age and reason for termination, as does the amount payable. The insurance is financed from employer contributions. Cf. severance pay (white-collar workers).

http://www.eurofound.europa.eu/emire/SWEDEN/ANCHOR-AVG-Acirc...



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Note added at 5 hrs (2008-11-28 14:56:39 GMT)
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_________

Also, to demonstrate that this is the proper UK use, note the spelling of 'labour' (not 'labor' as in US English) below (where AGB = AvGångsBidgrag):

Social and Occupational Security and Labour Market Flexibility in ...
The ****severance pay insurance, AGB,*** is an agreement-based insurance that covers blue-collar. workers within the sphere of agreement of the Confederation...

papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1006195_code685066.pdf?abstractid=1006195&mirid=1

Cecelia Murphy
United States
Local time: 08:35
Native speaker of: English
PRO pts in category: 12
Notes to answerer
Asker: Thanks too for all the info here.

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12 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
private redundancy-pay insurance


Explanation:
Redundancy pay insurance take out privately: unlikely in the UK, though not impossible. Why? This is taken care of by a government agency called *National Insurance*.




--------------------------------------------------
Note added at 2 days14 hrs (2008-11-30 23:18:53 GMT)
--------------------------------------------------

Private insurance against unemployment in the UK takes the form only of 'living assurance' or 'dread diseases' medical insurance for the contingency of the assured/policy holder being taken out of circulation by e.g. a heart attack, stroke, accidental blindness etc.

Example sentence(s):
  • Your claims for a redundancy payment from the *National Insurance Fund*. 55. To qualify for a redundancy payment you must:. • have been made redundant; and ...

    Reference: http://www.insolvency.gov.uk/pdfs/RP1%20Form%20revised%20Feb...
xxxAdrian MM.
Local time: 17:35
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 96
Notes to answerer
Asker: Great possibilty. But I gotta check if such a thing actually exists.

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Nov 28, 2008:
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