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What is TWK on my pay slip?
When you receive a payslip, it states exactly what salary you will receive that month. However, the "net TWK result" may be stated at the top of your payslip.
The abbreviation TWK stands for 'with retroactive effect'. When a retroactive result is stated on a payslip, this means you will receive an additional amount in your account retroactively. This amount is often positive and therefore higher than your normal salary, but TWK can sometimes be negative, which means an amount will be deducted from your wage.
Why am I getting a TWK correction?
When processing payroll administration, corrections or changes occur that should have been applied to your salary in the past. For example, when a new collective labour agreement comes into effect, which entitles you to a wage increase. This wage increase is then paid out (or withheld) by the payroll administrators with retroactive effect. This recalculation on your payslip means you will get 'extra' money and we call this a TWK correction.
Make your own TWK payslip
With our salary software Delta and personnel system Polaris, it is possible to make TWK changes over previous periods and salary years.Polaris TWK correction payslip: Create TWK assignment > audit tax authorities > over the year. You enter the change (salary change, change in department). You indicate when, then you run a TWK.
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