What is 'semiretirement program' in SAP ORG-LX-T9N - Team: Corporate Translation?

semiretirement program - Overview

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: A model that enables elegible employees the option to gradually end their professional carriers.

semiretirement program - Details

• 
  Key Concepts: 
  A semiretirement program is a type of retirement plan offered by SAP that allows employees to reduce their working hours and receive a reduced salary while still maintaining their benefits. This type of program is designed to help employees transition into retirement while still providing them with financial security. 
  
  How to use it: 
  To take advantage of a semiretirement program, an employee must first meet certain criteria. This includes having worked for SAP for at least five years and being at least 55 years old. Once these criteria are met, the employee can then apply for the program and negotiate a reduced salary and working hours with their manager. 
  
  Tips & Tricks: 
  It is important to note that the semiretirement program is not available to all employees. It is only available to those who meet the criteria mentioned above. Additionally, it is important to understand that the reduced salary and working hours are not guaranteed and must be negotiated with the manager. 
  
  Related Information: 
  For more information about the semiretirement program, please visit SAP's website or contact your local HR representative. Additionally, you can find more information about other retirement plans offered by SAP on their website as well.