Ordinary leave encashment permits annual conversion, death or incapacity payments, and limited resignation benefits subject to service conditions. Ordinary leave encashment may be permitted once in each calendar year for between ten and thirty days, provided the employee retains at least 180 days of ... Summary
International Financial Services Centres Authority (Employees' Service) Regulations, 2026
Ordinary leave encashment permits annual conversion, death or incapacity payments, and limited resignation benefits subject to service conditions.
Ordinary leave encashment may be permitted once in each calendar year for between ten and thirty days, provided the employee retains at least 180 days of ordinary leave after encashment. For employees with more than eight years of total service who did not join through direct recruitment in Grade A or as Multi-Tasking Staff, the required post-encashment balance is reduced to 90 days. Cash equivalent of unavailed ordinary leave may also be granted upon death in service or complete and permanent medical incapacity.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.