End-of-career allowance

The end-of-career allowance, also called IFC, is a sum of money paid to an employee at the end of his or her professional career in the company. It is intended to compensate for the loss of wages caused by retirement or cessation of activity.

The IFC is paid by the employer and is calculated on the basis of the employee’s length of service in the company and remuneration. In general, it corresponds to a percentage of the employee’s annual gross remuneration or to a certain number of months of salary.

The IFC is a social protection scheme that aims to guarantee a minimum income to employees when they retire or leave the labor market. It thus limits the financial consequences of the end of a professional career and guarantees a decent standard of living for retired employees.

The IFC may be subject to special conditions, in particular as regards the length of service in the undertaking, the remuneration of the employee or the retirement age. These conditions may vary according to the collective agreements or company agreements in force.

In short, the end-of-career allowance is a sum of money paid by the employer to an employee at the end of his professional career in the company. It is intended to compensate for the loss of wages caused by retirement or cessation of activity and is calculated on the basis of the length of service and the remuneration of the employee. The IFC ensures a minimum income for employees upon retirement or termination of employment and is subject to special conditions.