The month of December is synonymous with a lot of expenses, whether it’s for celebrating St. Nicholas, buying Christmas gifts, making pension contributions, or going on vacation. Many consumers turn to a personal loan or a debt consolidation to finance these expenses. How do you calculate the net amount of your thirteenth month?
Am I Eligible for the Year-End Bonus and How Much Will I Receive?
First of all, the year-end bonus (net amount of your thirteenth month) is not systematic! It is therefore allocated based on the industry sectors and companies. Each year, some Belgian employees do not receive this thirteenth month.
To determine if you’re entitled to it, simply check your individual employment contract or inquire with your company’s human resources department or your collective bargaining agreement (CBA). If you are a beneficiary, the payment will occur at the same time as your December salary.
For employees of CP 200, which is the largest joint committee in Belgium with 450,000 employees, the bonus is paid provided that you have at least six months of seniority in the company.
Of course, absences such as vacations, public holidays, a short period of unemployment, as well as professional sick leave, maternity leave, or a work accident are not considered long absences that could penalize employees from receiving the bonus.
Good to know: For the first 60 days of sick leave or work accident, the amount will not be reduced. This rule applies to CP 200 companies: to know if it applies to your company, consult the relevant services.
Concerning people who were dismissed during the concerned year, they may then be entitled to part of the bonus. Its amount is calculated based on the time spent in the company.
Regarding people who retired during the year or resigned, the bonus may be granted provided they have five years of seniority.
What Is the Bonus Amount?
For the year-end bonus, rules vary from one company to another. Some base it on a fixed lump-sum amount and others on the actual hours worked during the year.
For example, in CP 200, the bonus is calculated on the gross salary of the concerned employee.
To Learn More
For a CP 200 employee who is single, childless, and has a gross salary of 3000 euros, the bonus is reduced by social security deductions at 13.07%.
Finally, for those who are not eligible for the bonus or receive a partial bonus, solutions such as personal loans or debt consolidation are available to make the necessary purchases.
