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Company Acquisition with relation to early retirement

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pioskie1121


Arresto Menor
Our Company "M" was acquired/bought by Company "O".

In company M's retirement plan, it states that if you term/service is:

0-5 years, you will get 25% of your basic salary multiply by number of years of service.

6-10 years, you will get 50% of your basic salary multiply by number of years of service.

Company "0" would want us to have an early retirement.

Now, our accounting is saying that the 25% and 50% would be 20% and 30% respectively. just because we are given an early retirement.

Is there a law which is specific to company aquisitions and its separation pay?

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pioskie1121


Arresto Menor
Here is one more thing.

Our initial employee handbook that was handed to us contains a "RETIREMENT PLAN"

Now, our finance who also handles part of HR. is now showing us an "EARLY RETIREMENT PLAN". Which was never stipulated in the employee handbook and was never even discussed verbally to us.

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