VOLUNTARY EARLY RETIREMENT SCHEMES Sample Clauses

VOLUNTARY EARLY RETIREMENT SCHEMES. (a) Where the University chooses to offer a voluntary early retirement scheme approved by the Australian Taxation Office, it will provide as a minimum a lump sum benefit of two
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VOLUNTARY EARLY RETIREMENT SCHEMES. (a) Where the University chooses to offer a voluntary early retirement scheme approved by the Australian Taxation Office, it will provide as a minimum a lump sum benefit of two weeks of salary for each year of service with a maximum payment of 52 weeks of salary. This benefit will be additional to the employee’s other entitlements on retirement. (b) The University reserves the right to accept or not to accept an expression of interest in voluntary early retirement by an employee. (c) This clause does not apply to an employee employed on fixed term employment or on a pre- retirement contract.
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VOLUNTARY EARLY RETIREMENT SCHEMES. The University may offer an early retirement scheme (which may be conditional) to encourage certain groups or categories of staff to retire early or resign from the University. The University will consult with the relevant unions prior to making the offer to staff. • Freedom of Association; • Anti-discrimination; • Indigenous Employment; • Environmental Sustainability; • Occupational Health and Safety Co-operation; • Uniforms and Protective Clothing; • Amenities; • First Aid; • Job Security; and • Managing Change
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VOLUNTARY EARLY RETIREMENT SCHEMES. The University may offer an early retirement scheme (which may be conditional) to encourage certain groups or categories of staff to retire early or resign from the University. The University will consult with the relevant unions prior to making the offer to staff.
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VOLUNTARY EARLY RETIREMENT SCHEMES. 404 The University may offer early retirement in accordance with voluntary early retirement schemes approved by the Australian Taxation Office, but reserves the right to reject an expression of interest in voluntary early retirement submitted by an individual staff member. 405 Where the University has determined that a staff member’s position is redundant, they will be notified in writing and offered voluntary redundancy. A notice period of 12 weeks will commence on the date the written notification is dispatched by Express Post or email to the staff member (the Notice Period). The written notification will provide an estimate of the staff member’s entitlements to notice (or payment in lieu of notice), severance pay and payments in lieu of accrued leave. 406 Staff will be entitled to up to one day’s paid leave per week (pro rata) during their Notice Period and Extended Notice Period for the purposes of seeking other work, outplacement service or financial advice. 407 The Notice Period will be extended by any period of paid Parental Leave which falls within the 12 week period. 409 Where a staff member whose position has been made redundant does not accept an offer of voluntary redundancy, the University will seek to redeploy them to an alternative suitable position. The staff member may also seek a review of the decision to make their position redundant under clause 460. If the proposal to make a staff member’s position redundant is confirmed following a review, the staff member may elect to take a voluntary redundancy or continue with the redeployment process. 411 On cessation of employment, the staff member will receive payment in lieu of the balance of the Notice Period under clause 405 (if applicable) and severance pay under clause 419. 412 A staff member who agrees to an alternative employment end date later than the expiration of the Notice Period to suit the needs of the University will receive an additional payment equivalent to four weeks’ Salary. A staff member’s entitlement to this payment will be confirmed by the University in writing at the time of confirming the employment end date. 415 Where a staff member is required to transfer to a new work location, they will be entitled to relocation assistance in accordance with University policy.
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VOLUNTARY EARLY RETIREMENT SCHEMES. Where the University chooses to offer a voluntary early retirement scheme, it will consult with the unions party to this Agreement and will provide a minimum lump sum benefit of 2 weeks’ salary for each year of service but with no obligation to pay in excess of 52 weeks’ salary. Academic Staff Position Classification Standards‌ The classification standards for teaching and research and research only academic staff describe the broad categories of responsibilities attached to staff at different levels. The standards are not exhaustive of all tasks in academic employment, which is by its nature multi-skilled and involves an overlap of duties between levels. The standards provide an adequate basis to differentiate between the various levels of employment and define the broad relationships between classifications. Progression through an academic career will normally be based on teaching and/or research, administrative functions and contribution to the profession. The balance of functions will vary according to level and position over time. Teaching and Research Positions‌
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Related to VOLUNTARY EARLY RETIREMENT SCHEMES

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

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