Retrenchment Pay. (1) A staff member whose employment is terminated by the Company on the grounds of redundancy shall be eligible to receive retrenchment pay at the rate of one month’s last drawn basic salary for each completed year of continuous service with the Company, and proportionately for any completed month, up to a maximum of 25 years’ service subject to the payment not exceeding the remaining number of month’s basic salary the staff member would receive had he remained employed up to his retirement age.
Retrenchment Pay. 16.4.1 Except where 16.4.3 applies, where redundancies occur due to:-
Retrenchment Pay. (1) Subject to paragraph (2) hereof, when a reduction of hands is decided upon by the Company by reason of technological change, market forces or diminution of reserves, an employee notwithstanding the provisions of Clause 6 herein shall receive one month’s (four working weeks) notice of retrenchment and in addition to the payment required to be made under paragraph (a) (1) hereof shall be entitled to receive from the employer retrenchment pay calculated at the rate of two ordinary week’s pay for each completed year of employment with a minimum payment notwithstanding the length of employment of two ordinary week’s pay.
Retrenchment Pay. (1) Notwithstanding anything to the contrary contained in this Agreement, an employer shall, whenever an employee‟s services are terminated for the reason that he is retrenched, pay to such an employee, in addition to any payment that may be due in lieu of notice of termination of services, a sum equal to two weeks‟ wages for each completed year of service for the first four years‟ service with an employer, and one week‟s wages thereafter with that employer; provided that two weeks‟ retrenchment pay calculated on a pro-rata basis after only four months‟ employment in the first year of employment shall be applicable: Provided further that –
Retrenchment Pay. 11.1. Except where 11.3 applies, where redundancies occur due to:
Retrenchment Pay. Where the employment of an employee is to be terminated The Centre shall pay, in addition to all other payments due to that employee, the following retrenchment pay in respect of the following periods of service:
Retrenchment Pay. 12.1 An employee who is retrenched will be entitled to the following payment:
Retrenchment Pay. 17.11.1 Employees who are retrenched will be paid three (3) weeks pay for each year of service or part thereof to a maximum of fifty two (52) weeks pay. For example with 5.3 years of service an employee would receive a payment equivalent to 5.3 x 3 weeks pay. Provided that the minimum payment for an employee with up to and including one (1) year of service will be three (3) weeks pay.
Retrenchment Pay. Four weeks pay for each year of continuous service with a maximum payment of 52 weeks, with pro-rata payment for each completed month during the final year of service. A payment in excess of 52 weeks will be made only under the following circumstance: As at 1 October 1999 an employee who had an accrual greater than 52 weeks (based on the rate of 4 weeks per year of service) will have this accrual preserved, but will cease to accrue any further redundancy entitlements. The maximum amount that will be preserved, as at this date and payable will be 90 weeks, regardless of weeks accrued.
Retrenchment Pay. 13.1 Employee’s who are retrenched shall be paid two (2) weeks pay for each year of service or part thereof. (For example; an employee with
