prestaciones sociales

Discussion in 'Financial Terms' started by Citizen of the world, Oct 19, 2006.

  1. Citizen of the world Senior Member

    Caracas
    English, UK
    Can anyone help me translate 'prestaciones sociales'? I had thought 'social contributions', but I have also been advised it can mean social services, which I am not sure fits with the context, below:

    Fueron particularmente severas las consecuencias de la reforma de la Ley del Trabajo, que redujo drásticamente el monto de las prestacio­nes sociales de los trabajadores

    If it helps, the text is about Venezuela.

    Thanks.


     
  2. Kevyn_Arnold Senior Member

    Spanish-Colombia
    Social Benefits, whether they are money or services
     
  3. Citizen of the world Senior Member

    Caracas
    English, UK
    Thanks Kevyn_Arnold,

    I have also found a thread on WF which was started by a Venezuelan who explains what prestaciones sociales are in Venezuela, and I'm not sure Social benefits is specific enough in this case.

    I have tried to post the link, but am not allowed to.

    Essentially someone suggests that one option could be 'Indemnification per years of service' based on the explanation given, which is as follows:

    'En Venezuela entendemos por prestaciones sociales la indemnización que debe cancelársele a un trabajador como compensación por sus años de servicio, al término de la relación laboral.'

    But she rejected the suggestion of 'severance pay' saying:

    'Gracias por la ayuda, pero segun entiendo este seria en caso de despido, pero aca las condiciones son diferentes, el patrono debe pagarlo asi el empleado renuncie, es obligatorio por ley y son acumulativas segun los años de servicio. Independente de la indemnización que tambien se pago en caso de despido.'

    Any thoughts on that?
     
  4. Kevyn_Arnold Senior Member

    Spanish-Colombia
    I think you should determine if the definition this guy form Venezuela gave for Prestaciones Sociales is what you are looking for, in that case you should go for Compensation for Time of Service, which is paid to an employee when he/she retires; and not for Severance Indemnity which is paid to an employee when the employer terminates an employment contract based on the economic or other needs of the enterprise or on the employee's lack of ability. This serverance indemnity is equal to one month's salary for each year of service

    Hope it helps
     
  5. Citizen of the world Senior Member

    Caracas
    English, UK
    I really have no more to go on in terms of determining whether I am looking for the same term that the Venezuelan describes, so assuming it is the same thing - I have been trying to think of an equivalent in English.

    As far as I know, we don't have anything exact to compare it to in the UK, so I was still mulling over what to do, and whether to put a footnote explaining it (something like: lump sum payment upon ending employment), as I had never heard of your suggestion 'Compensation for Time of Service'. But your suggestion sounds good.

    Thanks again!
     
  6. fenixpollo

    fenixpollo Mod Chicken

    Arizona
    American English
    Perhaps the thread you are referring to is this one: Prestaciones Sociales.

    As a concept, I don't believe that Severance Pay applies only to terminating employment. It can be given to employees who are downsized, who take early retirement, or even who quit. It is simply "pay when the ties of employment are severed". I think it is a good translation of "prestaciones sociales". I agree that the other alternative suggested here (compensation for time/service) is a also good option.

    Saludos.
     
  7. Citizen of the world Senior Member

    Caracas
    English, UK
    thanks fenixpollo, i shall bear that in mind, and yes, the link you have kindly posted is the one i was referring to.
     
  8. javierserrano

    javierserrano Senior Member

    Bogotá D.C.
    Spanish-Colombia
    Hola.

    Me atrevo a hacer unas aclaraciones que creo que son a lugar. Las prestaciones sociales se calculan mes a mes y se descuentan del salario del empleado en razón a los porcentajes establecidos por la ley, así como el empleador también debe pagar un monto con la misma frecuencia y en la cantidad establecida en la normatividad. Al terminar el contrato laboral, estas deben liquidarse y deben entregarse al empleado los saldos pendientes. Entre ellos están las que en Colombia llamamos las cesantías y los intereses de cesantías que yo suelo traducir como Severance Pay y otros beneficios o prestaciones de carácter social como las vacaciones y las primas anuales.

    La cosa es que las prestaciones se pagan mes a mes y son lo que yo definiría en inglés como Social Benefits (ver este hilo anterior). Aunque a la terminación del contrato o del despido del empleado se liquidan los saldos, estos beneficios no solo se pagan en este momento. Se pagan mes a mes para que el empleado disfrute de ellos con esta misma frecuencia.

    Aunque estoy hablando desde Colombia, pienso que en latinoamérica todos los sistemas jurídicos son muy afines, o no?

    Saludos
     
  9. teatom

    teatom Senior Member

    Bogota Colombia
    German, fluent in English and Spanish
    Por si acaso alguien sale de su tumba y todavía tiene interés en este thread: there is the expression 'parafiscal contributions /
    retentions / withholdings.
    Buenas noches.
     
  10. epalacio05 New Member

    english
    Has anyone thought of ¨Pension plan¨ Mandatory employer pension plan¨ or something of that matter. For example in the United States those companies that have a pension plan. Its employees voluntarily contribute to the plan and after the employee switches employers or retires from the company, the employee is entitled to the pension plan that he or she has contributed to. Here in VZLA a pension is the equivolent to social security in the United States.
     

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