Redundancy Fund Clause Samples

Redundancy Fund. The Company at its discretion may elect to utilise a redundancy fund as provided for in clause 17.4 of the Building and Construction On Site Award 2010

Redundancy Fund. 45.4.1 From time to time, work will be conducted on projects or construction sites that have an arrangement to make redundancy contributions in respect of each Employee excluding Apprentices and Trainees. The Employer will contribute the amount prescribed on these construction sites to the Employees engaged on such a site.

Redundancy Fund. (a) The Enterprise shall make payments to Incolink or Protect for each employee when they are engaged in “on-site work” to meet the award redundancy pay obligations. The amount paid shall be that which is required by the Trust Deed of the fund. (b) No payments are required to be made to a redundancy fund for an employee not engaged in on-site work. (c) In addition to any award provision and at the Enterprise’s discretion, the company will pay redundancy payments to employees at their retirement from full time employment in the industry. As this benefit is primarily to benefit an employee no longer in full time work the Enterprise must be confident that the employee is actually retiring. (d) Any money held within the Incolink redundancy fund scheme in the employee's name will form part of the above payments. No double dipping will occur.

Redundancy Fund. 15.2.1 The Company will make contributions on behalf of each employee into an approved Redundancy Fund such as ACIRT, MERT or NEST. The Fund will be agreed by consultation between the Company and the employees. 15.2.2 If an employee is entitled to a redundancy payment in accordance with clause 4.4 of MEISA, (s)he will be entitled to be paid either the amount standing to his/her credit in the Account or the Award entitlement as per clause 4.4.5 of MEISA, whichever is the greater. 15.2.3 The Company shall make a contribution to the Account in respect of each Employee other than casuals, apprentices, trainees and juniors of the amount of $40.00 per week, which shall be backdated to the first pay week beginning or of after 1 January 2005 or from the commencement date of an employee’s employment if the employee commenced after 1 January 2005. From the first pay week commencing after 16 August 2005 the contribution will be increased to $60.00 per week. Contributions shall be paid into the Account monthly. 15.2.4 The Company will continue to make contributions until the balance standing to the employee’s credit in the Account equals or exceeds the maximum benefit payable under clause 4.4.5 of MEISA (16 weeks pay in respect of an employee under 45 years of age or 20 weeks pay in respect of an employee 45 years of age or over) for the classification of the employee, at which time the Company may cease to make contributions.

Redundancy Fund. 27.1 The Employer will contribute to a redundancy fund for all Employees except 1st and 2nd year apprentices. For rates please refer to sub-clause 26.7. 27.2 If the benefit to an Employee under the severance component under the redundancy fund is more than or equal to the severance payment under this agreement, the Employer is excluded from the obligation to make severance payments. 27.3 If the benefit under the severance component under the redundancy fund is less than the severance payment under the Agreement, the Employer will pay the difference between the benefit and the severance payment. 27.4 Retrenchment Selection Criteria 27.4.1 The special needs of the type of work the employer may tender; 27.4.2 Ability, special skills and experience; 27.4.3 Self motivation, productivity and ability to work without supervision; 27.4.4 Attendance and punctuality; 27.4.5 Adherence to procedures; 27.4.6 Seniority; 27.4.7 Reliability; and 27.4.8 Performance and discipline records kept for each Employee. 27.4.9 Note that the length of service criteria will be one of the number of factors considered in a redundancy situation and will not be the sole criteria applied for in the case of a redundancy – all factors will be considered (including the above).

Redundancy Fund. 28.13.1 The company will contribute into Incolink No.1 Fund for all employees covered by this agreement. The employee will be enrolled in the fund and be entitled to redundancy benefits in accordance with its terms.

Redundancy Fund. (a) The Company shall be a participating employer in the relevant Regional redundancy fund. All Employees will be enrolled in the relevant fund and will be entitled to redundancy payments in accordance with the relevant Regional Appendix.

Redundancy Fund. Where the employer has enrolled an employee into a redundancy scheme, then for the purpose of determining the entitlement of the employee, the employer shall firstly calculate the employees’ entitlement in accordance with this clause, and deduct an amount equal to the total contribution paid into the scheme on behalf of the employee. Any employee under termination notice is to immediately instruct IncoLink to notify his employer of the net amount in their IncoLink account so as to allow the employer to facilitate the employee’s redundancy payment in accordance with this agreement.