You are entitled to transition security when all of the following conditions are met

• You have been dismissed for production-related or financial reasons (not when a fixed-term employment ends).
• You are at least 55 years old on the date of dismissal.
• You have been employed by the dismissing employer for at least five years.
• You have registered as a jobseeker with the employment authorities within 60 days of the dismissal date.
• No membership or employment condition is required – you can receive the transition security allowance even if you joined the fund just before being dismissed.
• The transition security allowance is calculated only on the wages paid by the dismissing employer during the past 12 months. Unpaid absences do not affect the calculation of earned income.
• You can receive the transition security allowance even if you immediately find new employment.

You are not entitled to transition security allowance if:

• Your employer cancels your dismissal.
• Your employment contract is terminated during the notice period.
• You resign during the notice period.
• Your employer goes bankrupt.