separation allowance

noun2

1. •
   Money paid as compensation to someone whose employment has ended.

   • The Mayor and Council will be entitled to a separation allowance upon completion of their term in office.
   • Workers who resign within thirty days after receiving a layoff notice are eligible for a separation allowance of two weeks’ salary for each year of service.
2. •
   A sum of money paid regularly to support the dependents of a member of the military while he or she is serving away from home.

   • […] I joined up, seeing as they were looking for men. And she’s glad of the separation allowance, let me tell you. — 2005