An employee who is within two (2) years of the eligible retirement date prescribed by their superannuation fund and who is provided with notice of redundancy in accordance with clause 7.5 may apply for voluntary early retirement. If the University approves an application from an employee for voluntary early retirement, the benefit payable to an employee will be based on the following:
twelve (12) weeks’ salary conditional upon cessation of employment no later than the end of the semester in which the notice under clause 7.5 has been given to the employee, or another date mutually agreed with the University; plus
two (2) weeks’ salary for each completed year of service,
capped at seventy-eight (78) weeks’ salary.
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