Retirement Leave Clause Samples
The Retirement Leave clause establishes the terms under which employees may take leave upon retirement from an organization. Typically, it outlines eligibility criteria, the amount of leave that can be accrued or taken prior to retirement, and the process for requesting and approving such leave. For example, it may specify that employees with a certain number of years of service are entitled to a set number of paid days off before their official retirement date. The core function of this clause is to provide clarity and consistency regarding leave entitlements at the end of employment, ensuring both the employer and employee understand their rights and obligations during the transition to retirement.
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Retirement Leave. Upon retirement, employees on regular appointments shall be granted a leave, or at the employee's option a cash pay-out, equal to a maximum of 60 days accumulated sick leave.
Retirement Leave.
F6.1 Only Employees who elect to retire on or after the date they are eligible to receive government funded superannuation will be entitled to receive the following benefit to supplement their first government superannuation payment:
(i) after 10 years continuous service – 20 working days
(ii) after each additional year up to 25 years - 5 working days
(iii) after each additional year over 25 years - 2 working days The Employer may at its discretion approve early retirement of a staff member within five (5) years of their eligibility for government superannuation without affecting their eligibility for retirement leave. The Employer may also agree to retirement on medical grounds subject to the provisions of Section F4.10 titled Medical Incapacity. As an exception to F6.1, Employees retiring on medical grounds, before they are eligible to receive government funded superannuation may also be entitled to Retirement Leave.
F6.2 Service for the purpose of retirement leave entitlement and calculation means unbroken employment with the University, either full-time or part-time (on a pro-rata basis) from the University together with any other service which the Employer may at its discretion recognise. However, previous service in the State Sector does not qualify for retiring leave if the employee accepted voluntary severance.
F6.3 Retirement leave does not count as service. Service for retirement leave purposes is to be reckoned up to and including the last day of work, plus any annual or long-service leave due.
F6.4 In determining the period of service, the employer may deduct periods of leave without pay exceeding three months in total.
F6.5 Retirement leave commences from the working day following the last day of work. Where annual leave or long-service leave is due, the retiring leave commences from the working day following the expiry of such leave.
Retirement Leave. Employees who have completed at least twenty-five (25) years of continuous service up to the time of retirement shall be eligible for 30 calendar days’ leave to be taken one month before the date of retirement. However, an employee of any religious faith who has qualified for such leave may be granted at the Bank’s discretion to utilise the leave at a stretch at any time for a religious pilgrimage to be performed overseas.
Retirement Leave. (a) Retiring employees shall be entitled to retiring leave as set out in the Entitlement table in section f.
(b) Service for the purposes of retirement leave entitlement and calculation means unbroken full-time employment in the University, together with any other service which the employer may, at its discretion, recognise. However, previous service in the State Sector does not qualify for retiring leave if the employee accepted voluntary severance.
(c) Retirement leave does not count as service; service for retirement leave purposes is to be reckoned up to and including the last day of work plus any annual leave due.
(d) In determining the period of service, the employer may deduct periods of leave without pay exceeding 3 months in total.
(e) On the death of an employee the employer may approve a cash grant in lieu of Retiring Leave to the surviving partner or, if there is no surviving partner, to any dependant.
(f) Entitlements 10 22 23 24 24 25 26 11 26 27 28 29 29 30 12 31 31 32 33 34 34 13 35 36 36 37 38 39 14 39 40 41 41 42 43 15 44 44 45 46 46 47 16 48 49 49 50 51 51 17 52 53 54 54 55 56 18 56 57 58 59 59 60 19 61 61 62 63 64 64 20 65 66 66 67 68 69 21 69 70 71 71 72 73 22 74 74 75 76 76 77 23 78 79 79 80 81 81 24 82 83 84 84 85 86 25 86 87 88 89 89 90 26 91 91 92 93 94 94 27 95 96 96 97 98 99 28 99 100 101 101 102 103 29 104 104 105 106 106 107 30 108 109 109 110 111 111 31 112 113 114 114 115 116 32 116 117 118 119 119 120 33 121 121 122 123 124 124 34 125 126 126 127 128 129 35 131
Retirement Leave. Full-time nurses who:
Retirement Leave a. Retiring employees shall be entitled to retiring leave as set out in tables A and B of this clause.
b. Service for the purpose of retirement leave entitlement and calculation means unbroken full-time employment in the University, together with any other service which the employer may, at its discretion, recognise. However, previous service in the State Sector does not qualify for retiring leave if the employee accepted voluntary severance.
c. Retirement leave does not count as service; service for retirement leave purposes is to be reckoned up to and including the last day of work plus any annual or long service leave due.
d. In determining the period of service, the employer may deduct periods of leave without pay exceeding 3 months in total.
e. On the death of an employee the employer may approve a cash grant in lieu of Retiring Leave to the surviving partner or, if there is no surviving partner, to any dependant.
Retirement Leave. An Employee scheduled to retire and to receive a superannuation allowance under the Public Sector Pension Plans Act, shall be entitled to:
9.11.1 a special leave for a period equivalent to forty percent (40%) of accumulated sick leave credit, to be taken immediately prior to retirement, or
9.11.2 a special cash payment of an amount equivalent to the cash value of the forty percent (40%) of accumulated sick leave credit, to be paid immediately prior to retirement and based upon the Employee's current rate of pay calculated as in Article 9.2.4.
9.11.3 Where an Employee has selected to take a special leave under Article 9.11.1, and in order to facilitate retirement at the end of a month so that pension eligibility commences at the beginning of the following month, the excess converted sick leave days may be paid out as a special cash payment in accordance with Article 9.
Retirement Leave. An Employee scheduled to retire and to receive a superannuation allowance under the Public Sector Pension Plans Act, shall be entitled to:
9.11.1 a special leave for a period equivalent to forty percent (40%) of accumulated Sick Leave credit, to be taken immediately prior to retirement, or
9.11.2 a special cash payment of an amount equivalent to the cash value of the forty percent (40%) of accumulated Sick Leave credit, to be paid immediately prior to retirement and based upon the Employee's current rate of pay calculated as in Article 9.2.4.1.
Retirement Leave. Employees who retire at the specified age or who retire earlier than the specified age with the consent of the employer shall be entitled to paid retiring leave on the following scale: 11 26 27 28 29 29 30 13 35 36 36 37 38 39 14 39 40 41 41 42 43 15 44 44 45 46 46 47 16 48 49 49 50 51 51 17 52 53 54 54 55 56 18 56 57 58 59 59 60 19 61 61 62 63 64 64 25 65 66 66 67 68 69 26 69 70 71 71 72 73 27 74 74 75 76 76 77 28 78 79 79 80 81 81 29 82 83 84 84 85 86 30 86 87 88 89 89 90 31 91 91 92 93 94 94 32 95 96 96 97 98 99 33 99 100 101 101 102 103 34 104 104 105 106 106 107 35 108 109 109 110 111 111 36 112 113 114 114 115 116 37 116 117 118 119 119 120 38 121 121 122 123 124 124 39 125 126 126 127 128 129
Retirement Leave. G 7 .1 Retiring employees shall be entitled to retiring leave as set out in tables A and B of this clause.