Bridge to Retirement. 15.4.1 A bridge to retirement plan allows a Member to phase into retirement with a workload reduction of fifty per cent (50%). Annual workload responsibilities will be reduced proportionately once a future appointment termination date has been declared.
Bridge to Retirement. A declared surplus employee who is close to retirement may wish to exchange severance pay for a working bridge to retirement subject to the following conditions: • The surplus employee must make a decision to opt for a bridge within 4 weeks of being declared surplus. • The period of time that represents the bridge would commence at the end of the search notice period. • The time period for which the bridge exists will not exceed the equivalent weeks of severance pay. • At the end of the bridging period the employee will terminate employment. • This decision is irrevocable. Surplus employees may be assigned to perform work in temporary positions which bridge them to a point in time where additional ongoing work requirements exist, subject to the following conditions: • That access to such positions be equitable (e.g. involve some form of advertising). • Surplus employees shall have their surplus status and rights withdrawn when selected to bridging positions. • Bridging could also include work sharing and job sharing where there is Agreement with the employees involved.
Bridge to Retirement. A declared surplus employee who is close to retirement may wish to exchange severance pay for a working bridge to retirement subject to the following conditions: • The surplus employee must make a decision to opt for a bridge within 4 weeks of being declared surplus. • The period of time that represents the bridge would commence at the end of the vacancy transition period. • The time period for which the bridge exists will not exceed the equivalent weeks of severance pay. • At the end of the bridging period the employee will terminate employment. • This decision is irrevocable.
Bridge to Retirement
