Superannuation Act definition
Examples of Superannuation Act in a sentence
The Parties acknowledge that the Civil Service Compensation Scheme and the Civil Service Injury Benefit Scheme (established pursuant to section 1 of the Superannuation Act 1972) are not covered by the protection of New Fair Deal.
Employee eligibility is determined by the Public Service Superannuation Act.
The salary which shall be used to calculate the amount of the Public Service Award in accordance with this Article shall be the salary which the employee was receiving on the date of the termination of his/her employment or the salary used in the calculation of a pension under the Public Service Superannuation Act, whichever is greater.
Employees with nine (9) or more years of accumulated service whose services are terminated as a result of retirement in accordance with the provisions of The Civil Service Superannuation Act, shall be paid severance pay in the amount of one (1) week’s pay for each complete year of accumulated service or portion thereof, but the total amount of severance pay under this Section shall not exceed fifteen (15) weeks’ pay.
Continuing participation in the plan will be mandatory until such time as the employee is no longer ineligible for coverage under the Public Service Superannuation Act.
An employee who on termination is entitled to an immediate annuity, or immediate annual allowance under the Public Service Superannuation Act, will be paid an amount equal to one (1) week's pay for each completed year of continuous service, less any period of service in respect of which the employee was previously granted termination compensation, up to a maximum of thirty (30) weeks' pay.
Part-time employees will be covered by the provisions of the Public Service Superannuation Act pro-rated on the basis of hours worked.
Employees will be covered by the Public Service Superannuation Act (Part I and III), the terms of which are not subject to collective bargaining.
To be eligible employees must meet the following criteria: • Be currently eligible to receive a pension under the Public Service Superannuation Act (PSSA); or • Be eligible to receive a pension under the PSSA at the end of the progressive retirement arrangement (not to exceed two years).
On retirement, when an employee is entitled to an immediate annuity or to an immediate annual allowance under the Public Service Superannuation Act, one (1) week's pay for each complete year of continuous employment and, in the case of a partial year of continuous employment, one (1) week's pay multiplied by the number of days completed of continuous employment (in the current year) divided by three hundred and sixty-five (365) to a maximum of thirty (30) weeks' pay.