Page 113 - sampelcetak

CHAPTER XIII
TERMINATION OF EMPLOYMENT
Article 57
1BAutomatic Employment Termination

Working relationship ends because:
1. Employee reach 55 years old of retirement age,
2. Employee pass away,
3. The term of PKWT (Working Agreement of Certain Time) is
terminated,
4. Resignation of the Employee.

Employees reach retirement age:
1. The employment relationship ends when the employee reaches
the retirement age of 55 years.
Employees whose employment relationship ends are entitled
to:
a. Pension Benefits from the Pension Fund Program in
accordance with Article 47.
b. Old Age Security and Pension Benefits from Employment
BPJS.
c. Payments as a form of appreciation for employee services
to the Bank are as follows:
(i) 2 (two) months Wages for each year of service or 24
months Wages, whichever is higher.
(ii) The Wage component in calculating award money
consists of:
(1) Basic wages;
(2) Fixed allowance.
2. Determination of the employee's retirement age refers to the
date of birth listed on the Employee's birth certificate kept at the
Human Resources Department (HR).
3. Payment of award money, or pension benefits in accordance with
Article 59 is carried out at the end of the month along with the
payment of the last Employee's Wages.
4. Employees whose employment relationship ends due to reaching

47