What is a voluntary separation package? A voluntary severance package is "a financial incentive that's offered to an employee in hopes that he will resign or retire," according to What Is. And, unlike most severance packages, a voluntary severance package gives the employee the option to indeed decline the offer.

What is a typical voluntary severance package?

The typical formula for a severance package is one or two weeks of pay for each year of service. It can be paid in one lump sum or over a period of time.

Can I claim UIF if I took a voluntary severance package?

Can I claim from the UIF fund if I have resigned? No, cannot claim if you have resigned from the job. You can only claim unemployment benefits if you have been dismissed or retrenched or if the contract has expired.