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How to manage the end of year pilar 3 cash outs
How to manage the end of year pilar 3 cash outs

This article explains how HR managers have to manage the pilar 3 cash outs at the end of the year

Manon Lambert avatar
Written by Manon Lambert
Updated over a week ago

As you probably know, the legal mobility budget consists of 3 pillars of which the third one is a cash payment of your remaining budget at the end of the year (or when someone leaves the company, but that explanation can be found here).

In this article we focus on the pilar 3 cash out that happens at the end of the year, and the good news is, you almost don't have to do anything!

In the beginning of January we will create these cash out expenses for you. Every year the specific date in January will be communicated to you in a timely manner. Let's now call this date the Xth of January.

We do the cash-out creation in the beginning of January because your employees have the right to use their legal mobility budget up until 31st of December. This gives them some time to enter these last expenses they might have made during the last days of the year.

After the cash-out expenses have been created by us on the Xth of January, you can do a second payroll for December. That means that you will have to take the following steps:

  1. Go to the Expenses page to see if you still have to approve some expenses that have been entered by your employees after the date on which you did the payroll export of December.

  2. Go to the Payroll page and indicate December as the payroll period for which you want to make an export.

  3. Do your payroll as you normally would do it in Mbrella.

You can also take a look at the video below with an explanation of what you have to do:

🚨 Your Social Secretary needs to receive this export to fill your employees' tax form!

So concretely, your employees have until the Xth of January to add expenses of the previous year.

The leftover 20XX budget can only be used for expenses that occurred in 20XX.

It cannot be used for expenses that will occur in 20XX+1.

Don't forget to inform your employees about this deadline 😊

And what about next year's budget?
Here you really have nothing to do! We take care of this.

Your employees' mobility budgets will be automatically renewed for the next year 🎉

Should some of your employees receive a higher budget as of the following year? You can modify their budget directly in Mbrella by going into your employee profile and clicking on "Edit budget".

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