Common use of Retirement Payment Clause in Contracts

Retirement Payment. (a) Where an Employee who has been employed for five years or more dies or has their employment terminated on the grounds of ill health, the Employee or their estate (as the case may be) shall be entitled to be paid a retiring gratuity of $531 from FPPOOA1 July 2018, then $547 from FPPOOA 1 July 2019, then $563 from FPPOOA 1 July 2020, then $580 from FPPOOA 1 July 2021, then $598 from FPPOOA 1 July 2022, then $616 from FPPOOA 1 July 2023, then $634 from FPPOOA 1 July 2024 and then $653 from the FPPOOA 1 July 2025 for every completed year of service less any lump sum amount paid on retirement by a superannuation fund or scheme to which the Employer has made contributions on the Employee's behalf.

Retirement Payment. (a) Where an Employee who has been employed for five years or more dies or has their employment terminated on the grounds of ill health, the Employee or their estate (as the case may be) shall be entitled to be paid a retiring gratuity of $531 from FPPOOA1 FPPOOA 1 July 2018, then $547 from FPPOOA 1 July 2019, then $563 from FPPOOA 1 July 2020, then $580 from FPPOOA 1 July 2021, then $598 from FPPOOA 1 July 2022, then $616 from FPPOOA 1 July 2023, then $634 from FPPOOA 1 July 2024 and then $653 from the FPPOOA 1 July 2025 for every completed year of service less any lump sum amount paid on retirement by a superannuation fund or scheme to which the Employer has made contributions on the Employee's behalf.