Employment Amendment Act 2024

What this bill does

This bill increases the maximum severance pay that employees can receive when their job is terminated. It raises the limit from 26 weeks of wages to 32 weeks of wages, giving workers up to 6 additional weeks of severance pay.

If passed (voted YES)

• Employees who lose their jobs could receive up to 32 weeks of wages as severance pay instead of the current maximum of 26 weeks
• Workers would have stronger financial protection during job transitions, with potentially 6 extra weeks of income support
• Employers would face higher potential costs when terminating employees, as they may need to pay more severance

If rejected (voted NO)

• The maximum severance pay remains capped at 26 weeks of wages
• Current employment termination rules and costs stay exactly the same
• No additional financial protection is provided to workers facing job loss

Who it affects

This primarily affects all employees in Bermuda who may face job termination, as they could receive enhanced severance benefits. Employers across all sectors would also be impacted through potentially higher severance costs when ending employment relationships.