|
Completed continuous years of service on Termination |
No. of weeks’ salary |
|
|---|---|---|
| Less than 45 years old | 45 years old or older | |
|
Less than 1 |
4 | 5 |
|
1 |
4 | 5 |
|
2 |
7 | 8.75 |
|
3 |
10 | 12.5 |
|
4 |
13 | 16.25 |
|
5 |
15 | 18.75 |
|
6 |
17 | 21.25 |
|
7 |
19 | 23.75 |
|
8 |
21 | 26.25 |
|
9 |
23 | 28.75 |
|
10 |
31.25 | 31.25 |
|
11 |
33.75 | 33.75 |
|
12 |
36.25 | 36.25 |
|
13 |
38.75 | 38.75 |
|
14 |
41.25 | 41.25 |
|
15 |
43.75 | 43.75 |
|
16 |
46.25 | 46.25 |
|
17 |
48.75 | 48.75 |
|
18 |
51.25 | 51.25 |
|
19 or more |
52.18 | 52.18 |
Severance payments will be calculated on the employee’s Salary as at the date of retrenchment.
A fixed-term employee who is retrenched prior to the expiry of their contract of employment in accordance with its terms, will receive a severance payment and a payment in lieu of any remaining notice period, of a combined value of the balance of their contract or receive six (6) months’ Salary, whichever is greater.
Employees who are within two (2) years of their anticipated retirement date for superannuation purposes may apply to take Voluntary Retirement as per clause 7.8.
Subject to sub-clause 7.6(b), if the University offers acceptable alternative employment for an employee who is otherwise entitled to severance payment, then that employee is not entitled to severance payment.
Capping of Notice and Severance Payments
The maximum amount of monies that a continuing employee may receive from redundancy severance payments and any payment in lieu of part or full notice as may be determined by the University, is capped at seventy-eight (78) weeks’ salary. The maximum amount of monies that a fixed-term employee may receive from retrenchment is set out at sub-clause 7.7(b).
The University will not re-hire a former employee who has received a severance payment for the period equal to the payment of notice and severance.
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