Common use of Enhanced Early Retirement Clause in Contracts

Enhanced Early Retirement. 27.11.1 Employees engaged prior to 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of ten years' total aggregated service with the employer, with the Board and one or more other Hospital and Health Services, and with one or more of the following services: a) Public Service b) New Zealand Post Office c) New Zealand Railways d) Any university in New Zealand e) any Health Centre in any New Zealand Polytechnic or College of Education but excludes any service with any of the above services or with any Board which has been taken into account for the purposes of calculating any entitlement to a redundancy/severance/early retirement or similar payment from any of the above services or from any Hospital and Health services or Boards 27.11.2 Employees engaged on or after 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of 10 years total current continuous service with the employer. 27.11.3 Membership of a superannuation scheme is not required for eligibility. 27.11.4 The provisions of clause 13.0 (Retiring Gratuities) shall apply and in addition, the employee shall receive the following: (a) 1 months notice or 8.33 per cent of basic salary (T1 rate only) for the preceding 12 months in lieu of notice. This payment is regardless of length of service; and (b) 12 per cent of basic salary (T1 rate only) for the preceding 12 months, or part thereof for employees with less than 12 months service; and (c) 4 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of years of service minus one up to a maximum of 19; and (d) Where the period of total aggregated service is less than 20 years, 0.333 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of completed months in addition to completed years of service. (e) If the employee has ten or more years' service, the full retiring gratuity set out in the scale contained in clause 12 shall be paid. (f) Outstanding annual leave and long service leave may be separately cashed -up.

Enhanced Early Retirement. 27.11.1 (a) Employees engaged prior to 1.5.94 are eligible if they are within 10 years of retirement entitlement to Guaranteed Retirement Income and have a minimum of ten years' total years aggregated service with the employerEmployer, with the Board and one or more other Hospital and District Health ServicesBoard’s, and with one or more of within the following services: a) Public Service b) New Zealand Post Office c) New Zealand Railways d) Any university in New Zealand e) any Health Centre in any New Zealand Polytechnic or College of Education Service, but excludes any service with any of the identified above services or with any Board which has been taken into account for the purposes of calculating any entitlement to a redundancy/severance/early retirement or similar payment from any of the above services or from any Hospital and Health services or Boards 27.11.2 Employees engaged on or after 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of 10 years total current continuous service with the employerservices. 27.11.3 (b) Membership of a superannuation scheme is not required for eligibility. 27.11.4 (c) The provisions of clause 13.0 Clause 32 (Retiring Gratuitiesretiring gratuities) shall apply and in addition, the employee shall receive the following: (ai) 1 months notice or 8.33 per cent of basic salary (T1 rate only) for the preceding 12 months in lieu of notice. This payment is regardless of length of service; and (bii) 12 per cent of basic salary (T1 rate only) for the preceding 12 months, or part thereof for employees with less than 12 months service; and (ciii) 4 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of years of service minus one up to a maximum of 19; and (div) Where where the period of total aggregated service is less than 20 years, 0.333 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of completed months in addition to completed years of service. NB: The total amount paid to employees under this provision shall not exceed the total basic salary (T1 rate only) the employees would have received between their actual retirement and the date of their compulsory retirement. (ev) If the employee has ten 10 or more years' years service, the full retiring gratuity set out in the scale contained in clause 12 Clause 32 shall be paid. (fvi) Outstanding annual leave and long service leave may be separately cashed -upup.

Enhanced Early Retirement. 27.11.1 Employees engaged prior to 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of ten years' total aggregated service with the employer, with the Board and one or more other Hospital and Health Services, and with one or more of the following services: a) Public Service b) New Zealand Post Office c) New Zealand Railways d) Any university in New Zealand e) any Health Centre in any New Zealand Polytechnic or College of Education but excludes any service with any of the above services or with any Board which has been taken into account for the purposes of calculating any entitlement to a redundancy/severance/early retirement or similar payment from any of the above services or from any Hospital and Health services Services or BoardsBoards or Districts. 27.11.2 Employees engaged on or after 1.5.94 1 May 1994 are eligible if they are within 10 years of retirement and have a minimum of 10 years total current continuous service with the employer. 27.11.3 Membership of a superannuation scheme is not required for eligibility. 27.11.4 The provisions of clause 13.0 (Retiring Gratuities) shall apply and in addition, the employee shall receive the following: (a) 1 months months’ notice or 8.33 per cent of basic salary (T1 rate only) for the preceding 12 months in lieu of notice. This payment is regardless of length of service; and (b) 12 per cent of basic salary (T1 rate only) for the preceding 12 months, or part thereof for employees with less than 12 months service; and (c) 4 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of years of service minus one up to a maximum of 19; and (d) Where the period of total aggregated service is less than 20 years, 0.333 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of completed months in addition to completed years of service. (e) If the employee has ten or more years' service, the full retiring gratuity set out in the scale contained in clause 12 shall be paid. (f) Outstanding annual leave and long service leave may be separately cashed -upup. 27.12.1 For employees engaged prior to 1.5.94 "Service" for the purposes of this sub-clause

Enhanced Early Retirement. 27.11.1 28.11.1 Employees engaged prior to 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of ten years' total aggregated service with the employer, with the Board and one or more other Hospital and Health Services, and with one or more of the following services: a) Public Service b) New Zealand Post Office c) New Zealand Railways d) Any university in New Zealand e) any Health Centre in any New Zealand Polytechnic or College of Education but excludes any service with any of the above services or with any Board which has been taken into account for the purposes of calculating any entitlement to a redundancy/severance/early retirement or similar payment from any of the above services or from any Hospital and Health services or Boards 27.11.2 28.11.2 Employees engaged on or after 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of 10 years total current continuous service with the employer. 27.11.3 28.11.3 Membership of a superannuation scheme is not required for eligibility. 27.11.4 28.11.4 The provisions of clause 13.0 14.0 (Retiring Gratuities) shall apply and in addition, the employee shall receive the following: (a) 1 months notice or 8.33 per cent of basic salary (T1 rate only) for the preceding 12 months in lieu of notice. This payment is regardless of length of service; and (b) 12 per cent of basic salary (T1 rate only) for the preceding 12 months, or part thereof for employees with less than 12 months service; and (c) 4 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of years of service minus one up to a maximum of 19; and (d) Where the period of total aggregated service is less than 20 years, 0.333 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of completed months in addition to completed years of service. (e) If the employee has ten or more years' service, the full retiring gratuity set out in the scale contained in clause 12 shall be paid. (f) Outstanding annual leave and long service leave may be separately cashed -up- up.

Enhanced Early Retirement. 27.11.1 Employees engaged prior to 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of ten years' total aggregated service with the employer, with the Board and one or more other Hospital and Health Services, and with one or more of the following services: a) Public Service b) New Zealand Post Office c) New Zealand Railways d) Any university in New Zealand e) any Health Centre in any New Zealand Polytechnic or College of Education but excludes any service with any of the above services or with any Board which has been taken into account for the purposes of calculating any entitlement to a redundancy/severance/early retirement or similar payment from any of the above services or from any Hospital and Health services or Boards 27.11.2 Employees engaged on or after 1.5.94 are eligible if they are within 10 years of retirement and have a minimum of 10 years total current continuous service with the employer. 27.11.3 Membership of a superannuation scheme is not required for eligibility. 27.11.4 The provisions of clause 13.0 (Retiring Gratuities) shall apply and in addition, the employee shall receive the following: (a) 1 months notice or 8.33 per cent of basic salary (T1 rate only) for the preceding 12 months in lieu of notice. This payment is regardless of length of service; and (b) 12 per cent of basic salary (T1 rate only) for the preceding 12 months, or part thereof for employees with less than 12 months service; and (c) 4 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of years of service minus one up to a maximum of 19; and (d) Where the period of total aggregated service is less than 20 years, 0.333 per cent of basic salary (T1 rate only) for the preceding 12 months multiplied by the number of completed months in addition to completed years of service. (e) If the employee has ten or more years' service, the full retiring gratuity set out in the scale contained in clause 12 shall be paid. (f) Outstanding annual leave and long service leave may be separately cashed -up- up.