Common use of Deferred Salary Scheme Clause in Contracts

Deferred Salary Scheme. ‌ 7.6.1 Employees who have completed three (3) consecutive years' full-time service with the employer at the time of application may apply to be included in a deferred salary scheme. The scheme will enable employees, over a five-year period, to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 The following principles for the scheme will apply: (a) an employee will make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must be taken as special leave. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (e) superannuation entitlements and employer contribution rates will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts as four (4) years' service for the purpose of accruing long service leave; (g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.

Deferred Salary Scheme. ‌ 7.6.1 4.17.1 Employees who have completed three (3) consecutive years' full-time service with the employer at the time of application may apply to be included in a deferred salary scheme. The scheme will enable employees, over a five-year period, to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 4.17.2 The following principles for the scheme will shall apply: (a) an employee will shall make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must be taken as special leave. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will shall not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (e) superannuation entitlements and employer contribution rates will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts as four (4) years' service for the purpose of accruing long service leave; (g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will shall be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 4.17.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.

Deferred Salary Scheme. ‌ 7.6.1 Employees who (1) Permanent Caregivers will have completed three (3) consecutive years' full-time service access to the 4/5 pay option, whereby they work for four years at 80% pay and then take one year off at 80% pay in accordance with the employer at following: (a) By written agreement between the time Employer and Caregiver, a Caregiver may be paid 80% of application may apply to be included in a deferred her/his normal salary scheme. The scheme will enable employeesunder this Agreement, and any other relevant agreement upon the expiry of this Agreement, over a five-year period, to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the . The fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 The following principles for the scheme will apply: (a) an employee will make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must then be taken as special leaveleave with pay with the accrued salary annualised over the year. The rate of pay fifth year will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (e) superannuation entitlements and employer contribution rates will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts treated as four (4) years' service for the purpose of accruing long service leave; (g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretioncontinuous service. (b) The employee leave may not be accrued unless the Employer agrees to accrual. In deciding whether to support a particular request for this arrangement, the Employer will take into account factors such as operational requirements. To satisfy operational requirements, the number of Caregivers allowed to work under this arrangement may be restricted at any one time and/or the timing of the arrangements may need to be staggered. The Employer has the absolute discretion to determine the operational needs in this regard. (c) Where a Caregiver is approved to participate in this arrangement, the 80% of salary shall then become the applicable salary for all purposes included overtime, shift penalties, superannuation, salary packaging etc. (d) A Caregiver may withdraw from this arrangement by giving notice in writing at any time. She/he would then receive a lump sum equal to the accrued credit, paid at a time agreed between the Employer and Caregiver but not more than 3 months from the time of the Caregiver’s withdrawal from the arrangement. (e) A Caregiver who terminates his or her employment prior to the completion of the 4th year will be formally advised paid the accrued credit in their final payment. (f) Any paid leave taken during the first four years of the employer’s decision within one month arrangements will be paid at 80% of the application being madeCaregiver’s normal salary, plus the applicable leave loading. (g) It is the responsibility of the Caregiver to investigate the impact of entering into this arrangement on her/his superannuation, taxation, salary packaging and other benefits.

Deferred Salary Scheme. ‌a) The Deferred Salary Scheme (DSS) will allow Employees to defer 20% of their wages in the first four years of the Scheme and are paid the accumulated deferred salary in the fifth year, referred to as the Deferred Salary Year (DSY). 7.6.1 b) The following principles will apply in accordance with the Employer’s DSS policy: i. Full time and Part Time Employees who have completed three (3) consecutive two continuous years' full-time service with the employer at the time of application Employer may apply to be included in a deferred salary schemeDSS. ii. The scheme It is the responsibility of the Employee to investigate the impact of any of the arrangements under this clause on their allowances, superannuation and taxation, and the options, if any, available for addressing these. c) During the DSY, the Employee: i. will enable employees, be paid the money contributed over a fivethe four-year period, subject to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salarytaxation. 7.6.2 The following principles for the scheme will apply: (a) an employee will make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must be taken as special leaveii. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits canshall not be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee similar nature to thatperformed in the their employment from which the employee Employee was granted special leavethe DSL. (eiii. shall have their substantive position preserved iv. can take outstanding paid leave entitlements v. is not covered by workers compensation d) superannuation entitlements and employer contribution rates The fifth year will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component treated as continuous service but will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts count as four (4) years' service for the purpose of accruing long service leave;leave entitlements. e) Any paid leave taken during the first 4 years of this arrangement will be paid at 80% of the Employee's contracted hours at their base rate of pay. f) Superannuation entitlements and Employer contribution rates will be in accordance with the Superannuation Guarantee (SG) legislation. g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee Any Employee who withdraws from the scheme or the Employee's contract of employment terminates for any reason, they will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (ah) Approval or rejection of the application DSS applications will be determined at the employerEmployer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.

Deferred Salary Scheme. ‌ 7.6.1 Employees who have completed three (3) consecutive years' full-time service with the employer at the time of application may apply to be included in a deferred salary scheme. The scheme will enable employees, over a five-year period, to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 The following principles for the scheme will apply: (a) an employee will make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must be taken as special leave. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (e) superannuation entitlements and employer contribution rates will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts as four (4) years' service for the purpose of accruing long service leave; (g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.

Deferred Salary Scheme. ‌ 7.6.1 Employees 4.9.1 The parties agree that employees who have completed three two (32) consecutive years' full-time service with the employer at the time of application in Northern Territory Catholic schools may apply to be included in a deferred salary scheme. The scheme will enable employees, over a five-year period, to receive eighty per cent (80%) % salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 4.9.2 The Parties agree on the following principles for the scheme will applyscheme: (a) an employee will make application to participate Participation in the deferred salary scheme a minimum of three (3) calendar months before such participation is to beginby application, and at the employer's discretion. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the The fifth (5th) year of any deferred salary agreement must be taken as special leave. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (dc) an An employee will shall not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (ed) superannuation Superannuation entitlements and employer contribution rates will be governed by are calculated at the relevant Superannuation Guarantee Contribution legislative provisions (that is, 80% rate over the SGC component will be paid on the four (4) years worked and paid)five-year agreement; (fe) the five (5) The five-year agreement period counts as four (4) years' service for the purpose of accruing entitlement towards long service leave;. (gf) the The employee's substantive position will be preserved for the fifth (5th) (special leave) year. (hg) any Any outstanding long service leave entitlements of ten (10) 10 weeks or more can be taken as part of the fifth (5th) special year;. (ih) any Any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer;. (ji) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the The employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.

Deferred Salary Scheme. ‌ 7.6.1 Employees who (1) Permanent Caregivers will have completed three (3) consecutive years' full-time service access to the 4/5 pay option, whereby they work for four years at 80% pay and then take one year off at 80% pay in accordance with the employer at following: (a) By written agreement between the time Employer and Caregiver, a Caregiver may be paid 80% of application may apply to be included in a deferred her/his normal salary scheme. The scheme will enable employeesunder this Agreement, and any other relevant agreement upon the expiry of this Agreement, over a five-year period, to receive eighty per cent (80%) salary for the first four (4) continuous years of the nominated period, and take the . The fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 The following principles for the scheme will apply: (a) an employee will make application to participate in the deferred salary scheme a minimum of three (3) calendar months before such participation is to begin. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the fifth (5th) year of any deferred salary agreement must then be taken as special leaveleave with pay with the accrued salary annualised over the year. The rate of pay fifth year will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (d) an employee will not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (e) superannuation entitlements and employer contribution rates will be governed by the relevant Superannuation Guarantee Contribution legislative provisions (that is, the SGC component will be paid on the four (4) years worked and paid); (f) the five (5) year agreement period counts treated as four (4) years' service for the purpose of accruing long service leave; (g) the employee's substantive position will be preserved for the fifth (5th) (special leave) year. (h) any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year; (i) any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer; (j) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretioncontinuous service. (b) The employee leave may not be accrued unless the Employer agrees to accrual. In deciding whether to support a particular request for this arrangement, the Employer will take into account factors such as operational requirements. To satisfy operational requirements, the number of Caregivers allowed to work under this arrangement may be restricted at any one time and/or the timing of the arrangements may need to be staggered. The Employer has the absolute discretion to determine the operational needs in this regard. (c) Where a Caregiver is approved to participate in this arrangement, the 80% of salary shall then become the applicable salary for all purposes including overtime, shift penalties, superannuation, salary packaging etc. (d) A Caregiver may withdraw from this arrangement by giving notice in writing at any time. She/he would then receive a lump sum equal to the accrued credit, paid at a time agreed between the Employer and Caregiver but not more than 3 months from the time of the Caregiver’s withdrawal from the arrangement. (e) A Caregiver who terminates his or her employment prior to the completion of the 4th year will be formally advised paid the accrued credit in their final payment. (f) Any paid leave taken during the first four years of the employer’s decision within one month arrangements will be paid at 80% of the application being madeCaregiver’s normal salary, plus the applicable leave loading. (g) It is the responsibility of the Caregiver to investigate the impact of entering into this arrangement on her/his superannuation, taxation, salary packaging and other benefits.

Deferred Salary Scheme. ‌ 7.6.1 Employees 4.10.1 The parties agree that employees who have completed three (3) two consecutive years' full-full time service with the employer at the time of application Tiwi College may apply to be included in a deferred salary scheme. The scheme will enable employees, over a five-year period, to receive eighty per cent (80%) % salary for the first four (4) continuous years of the nominated period, and take the fifth (5th) year as special leave, using the accumulated reserves of deferred salary. 7.6.2 4.10.2 The parties agree on the following principles for the scheme will applyscheme: (a) an employee will make application to participate Participation in the deferred salary scheme a minimum of three (3) calendar months before such participation is to beginby application, and at the employer's discretion. (b) to be eligible for participation in the deferred salary scheme, employees must seek advice from a qualified financial advisor and superannuation fund regarding individual implications for taxation and superannuation. (c) the The fifth (5th) year of any deferred salary agreement must be taken as special leave. The rate of pay will be the accumulated surplus retained over the preceding four (4) years. Deferred salary benefits cannot be accrued beyond the five (5) years of the agreement. Any interest on the accrued deferred salary component will be utilised to offset the cost of the scheme. (dc) an An employee will shall not, during any period in which the employee is on such special leave, engage in any other remunerative employment of a kind performed by the employee in the employment from which the employee was granted special leave. (ed) superannuation Superannuation entitlements and employer contribution rates will be governed by are calculated at the relevant Superannuation Guarantee Contribution legislative provisions (that is, 80% rate over the SGC component will be paid on the four (4) years worked and paid)five-year agreement; (fe) the five (5) The five-year agreement period counts as four (4) years' service for the purpose of accruing entitlement towards long service leave;. (gf) the The employee's substantive position will be preserved for the fifth (5th) (special leave) year. (hg) any Any outstanding long service leave entitlements of ten (10) weeks or more can be taken as part of the fifth (5th) special year;. (ih) any Any employee who withdraws from the scheme will be paid the exact monies contributed to the scheme, with no interest payable. These funds will be paid as a lump sum unless otherwise negotiated with the employer;. (ji) without prejudicing any other circumstances where an employee withdraws from the scheme, an employee who ceases to be employed by the employer will be deemed to have withdrawn from the scheme at the cessation of such employment, unless otherwise agreed; and (k) the The employee is not covered by workers compensation during the fifth (special leave) year. 7.6.3 Participation in the scheme is to be requested by application from the employee. (a) Approval or rejection of the application will be determined at the employer's discretion. (b) The employee will be formally advised of the employer’s decision within one month of the application being made.