Pre-Retirement Leave. (a) An employee, who is scheduled to retire and to receive a superannuation allowance under the Pension (Public Service) Act, or who has reached the mandatory retiring age, shall be entitled to: (i) a special paid leave for a period equivalent to 50% of any accumulated sick bank credit, to be taken immediately prior to retirement; or (ii) a special cash payment of an amount equivalent to the cash value of 50% of any accumulated sick bank credit, to be paid immediately prior to retirement and based upon the current rate of pay. (b) Sick bank credit for the purpose of this Article means credit accumulated prior to January 1, 1978, which has not been utilized prior to retirement. (c) Where an employee is permitted to purchase a period of war service under the Pension (Public Service) Act at retirement, an employee may use all or part of this entitlement for the purchase of war service.
Appears in 12 contracts
Samples: Main and Subsidiary Agreements, Collective Agreement, Master and Subsidiary Agreements
