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Redundancy funds Sample Clauses

Redundancy funds. 22.8.1 An employer bound by this Agreement may utilise a fund to meet all or some of the liabilities created by this clause. Where:- 22.8.2 the employer utilises such a fund, payments made by a fund designed to meet an employer's liabilities under this clause, to employees eligible for redundancy/severance pay will be set off against the liability of the employer under this clause, and the employee will receive the fund payment or the Agreement benefit whichever is the greater but not both; or 22.8.3 a fund, which has been established pursuant to an agreement between unions and employers, does not make payments in accordance with this clause, contributions made by an employer on behalf of an employee to the fund will, to the extent of those contributions, be set off against the liability of the employer under this clause, and payments to the employee will be made in accordance with the rules of the fund or any agreement relating thereto and the employee will be entitled to the fund benefit or the Agreement benefit whichever is greater but not both.
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Redundancy funds. 24.3.1 An employer covered by this Agreement may utilise a fund to meet all or some of the liabilities created by this clause. Where the Company utilises such a fund: a) Payments made by a fund designed to meet an Company's liabilities under this clause, to Team members eligible for redundancy/severance pay will be set off against the liability of the employer under this clause, and the employee will receive the fund payment or the Agreement benefit whichever is the greater but not both; or b) Where a fund, which has been established pursuant to an agreement between team member’s representatives and Woolworths, does not make payments in accordance with this clause, contributions made by an employer on behalf of a team member to the fund will, to the extent of those contributions, be set off against the liability of the employer under this clause, and payments to the employee will be made in accordance with the rules of the fund or any agreement relating thereto and the employee will be entitled to the fund benefit or the Agreement benefit whichever is greater but not both.
Sample 1
Redundancy funds. An employer covered by this Agreement may utilize a fund to meet all or some of the liabilities created by this clause. Where an employer utilizes such a fund: payments made by a fund designed to meet an employer's liabilities under this clause, to employees eligible for redundancy/severance pay will be set off against the liability of the employer under this clause, and the employee will receive the fund payment or the Agreement benefit whichever is the greater but not both; or
Sample 1
Redundancy funds. An employer covered by this Agreement may utilize a fund to meet all or some of the liabilities created by this clause. Where an employer utilizes such a fund:  Payments made by a fund designed to meet an employer's liabilities under this clause, to employees eligible for redundancy/severance pay will be set off against the liability of the employer under this clause, and the employee will receive the fund payment or the Agreement benefit whichever is the greater but not both; or  Where a fund, which has been established pursuant to an agreement between employee representatives and employers, does not make payments in accordance with this clause, contributions made by an employer on behalf of an employee to the fund will, to the extent of those contributions, be set off against the liability of the employer under this clause, and payments to the employee will be made in accordance with the rules of the fund or any agreement relating thereto and the employee will be entitled to the fund benefit or the Agreement benefit whichever is greater but not both.
Sample 1
Redundancy funds. An Employer covered by this Agreement may utilise a fund to meet all or some of the liabilities created by this clause. Where an Employer utilises such a fund: 8.3.3.1 Payments made by a fund designed to meet an Employer's liabilities under this clause, to Employees eligible for redundancy/severance pay will be set off against the liability of the Employer under this clause, and the Employee will receive the fund payment, or the Agreement benefit whichever is the greater but not both; or 8.3.3.2 Where a fund, which has been established pursuant to an agreement between Employee representatives and Employers, does not make payments in accordance with this clause, contributions made by an Employer on behalf of an Employee to the fund will, to the extent of those contributions, be set off against the liability of the Employer under this clause, and payments to the Employee will be made in accordance with the rules of the fund or any agreement relating thereto and the employee will be entitled to the fund benefit or the Agreement benefit whichever is greater but not both.
Sample 1

Related to Redundancy funds

  • Redundancy Pay A redundant employee will receive redundancy/severance payments, calculated as follows, in respect of all continuous service (as defined by this Agreement) with the employer. Period of continuous service with the employer Redundancy/severance pay

  • Redundancy Contributions 25.1 The Employer is, and will remain during the life of this Agreement, a member of the Redundancy Payment Approved Worker Entitlement Fund 1 (“Incolink Number 4 Fund”) of which Redundancy Payment Central Fund Ltd ("Incolink") is trustee or an equivalent approved worker entitlement fund that is administered and/or managed by Incolink (the “Nominated Redundancy Fund”). References in this clause to "Nominated Redundancy Fund" include a reference to another fund for comparable purposes nominated by Incolink for the purposes of this Agreement as a fund which supersedes the Incolink Number 4 Fund. 25.2 All Employees of the Employer will be enrolled by the Employer in the Nominated Redundancy Fund and be entitled to Redundancy benefits in accordance with the terms of the relevant Trust Deed. 25.3 The Employer will pay a minimum of $160 to the Nominated Redundancy Fund on behalf of each Employee on a weekly basis (except where Clause 25.4 applies) in accordance with the trust deed or other governing documents, save that if Incolink nominates any other fund under clause 25.1 the Employer will 25.4 Redundancy contributions on behalf of Employees who have entered in to a part-time/job sharing arrangement under clause 14.2 will be pro-rated. For clarity casual Employees are entitled to the full contribution at clause 25.3 above. 25.5 The liability of the Employer to pay redundancy payments to an Employee under this clause will be met by the making of the contributions on behalf of the Employee required as a member of the Nominated Redundancy Fund, or by another fund nominated by Incolink under clause 25.1.

  • Redundancy 21.1 Subject to the following procedure, it is agreed that it is the Employer’s prerogative to determine the order of selection of Employees for employment or retrenchment. 21.2 All relevant legislation governing unfair dismissal, discrimination etc. will be observed. 21.3 Voluntary terminations will be encouraged as a first step. 21.4 The seniority of Employees - within classifications, experience or skills held - will be observed by the Employer in selecting Employees for retrenchment. 21.5 The dispute settlement procedures set out in Part 2 will apply in the event of any concerns arising regarding retrenchments. 21.6 An Employee is entitled to access their Redundancy payments when they cease to be employed by the Employer. The amount of the Redundancy payment shall be whichever is the greater of the entitlement due under the Award as in force from time to time or the entitlement of the Employee under the Nominated Redundancy Fund trust deed (or under the constituting documents of any fund nominated by Incolink under this clause). Note that the industry-specific Redundancy scheme prescribed by the Award as in force from time to time is expressly incorporated into this Agreement (including for clarity, in respect of work falling within the scope of clause 4.2).

Most Referenced Clauses

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