Vakantiegeld

Holiday pay, also known as vacation allowance, is a statutory payment that employers are required to make to employees. It amounts to at least 8 per cent of the employee’s gross annual salary and serves to provide financial support during the holiday period.

This entitlement is governed by the Minimum Wage and Minimum Holiday Allowance Act and applies to virtually all employees in salaried employment. Payment is ordinarily made in May or June, although the employment contract or applicable collective agreement may provide for payment at another time.

In practice, holiday pay affords employees additional financial resources to meet the costs of their vacation. Employers are obliged to calculate the amount correctly and to pay it in a timely manner so as to avoid fines or claims.