General
Semesterlön
Remuneration paid to an employee during their annual leave.
Definition
Semesterlön, or vacation pay, is the financial compensation an employee receives for the period they are on annual leave. According to the Annual Leave Act, it is typically calculated as 12 percent of the employee's total earned salary during the preceding 'intjänandeår' (earning year), including certain types of legitimate absences as vacation-earning. This ensures employees maintain their income during their statutory rest period.