Vitality scheme Sample Clauses

Vitality scheme. The purpose of the vitality scheme is to enable older employees to continue to function healthily and with pleasure until their state pension age. The scheme is open to employees aged 62 and over with an indefinite-term contract. Under the vitality scheme, employees can work 80% of their original working hours while retaining 90% of their last earned salary, with pension accrual continuing at 100% on the basis of their last earned salary. The vitality scheme has a standard character and applies for the term of this CLA. The scheme has been included in Appendix 2.
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Vitality scheme. The purpose of the vitality Scheme is to enable older employees to continue to function healthily and with pleasure until their state pension age by reducing the number of working hours. The vitality scheme has a standard character and took effect on 1 May 2019. The vitality scheme was last amended on 1 January 2023. Participants in this scheme will reduce their working hours by 20% while retaining 90% of their last earned salary, with pension accrual continuing at 100% on the basis of their original working hours and their last earned salary. Participants will receive special leave for the fewer hours worked. The scheme is open to employees aged 62 and over with an indefinite- term contract. This vitality scheme is designed within the prevailing fiscal and pension conditions.

Related to Vitality scheme

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