Common use of Retirement Leave Clause in Contracts

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 F4.11 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. ‌ 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 F4.11 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.