54. Transition to retirement

Fixed term pre-retirement contracts

54.1. In addition to the existing pre-retirement arrangements, a staff member may elect to reduce their time fraction under a fixed term pre-retirement contract to not less than 0.2 where they are within three years of being eligible to receive a retirement benefit from their superannuation scheme. The University may agree to pay a subsidy to maintain employer UniSuper contributions at the rate applicable to the former substantive appointment provided the staff member maintains their personal superannuation contribution appropriate to their previous full time contribution.

54.2. A staff member may elect to agree to a bona fide pre-retirement contract in which they may forego some of their existing entitlements under this Agreement in return for other mutually agreed benefits.

54.3. The University must ensure that the terms of the fixed term pre-retirement contact:

    1. are about permitted matters under section 172 of the Fair Work Act 2009;
    2. are not unlawful terms under section 194 of the Fair Work Act 2009;
    3. result in the staff member being better off overall than they would be if no arrangement was made; and
    4. do not result in the staff member being provided with any payment or benefit that is inconsistent with the National Employment Standards under the Act.

    54.4. Such a contract will be confirmed by the University:

      1. in writing;
      2. include the name of the University and staff member;
      3. be signed by an authorised representative of the University and staff member;
      4. include details of:
      1. the terms of the Enterprise Agreement that will be varied by the pre-retirement contract;
      2. how the contract will vary the effect of the terms;
      3. how the staff member will be better off overall in relation to the terms and conditions of their employment as a result of the contract; and
      1. state the day on which the contract arrangements commence.

      54.5. Pre-retirement contracts usually only involve agreed variations to salary, leave conditions and academic activity contributions. However for any other matters the University will consult with the relevant unions with the view of reaching agreement on the scope of any other proposed arrangements and where there are no objections raised may then offer staff a pre-retirement contract.

        Voluntary early retirement scheme

        54.6. The University may offer an early retirement scheme (which may be conditional) to encourage certain groups or categories of staff to retire early from the University. The University will consult with the relevant unions prior to making the offer to staff.

          Post-retirement contracts

          54.7. The delegate may seek approval from the Chief People Officer to offer a fixed term post-retirement contract to an staff member following their formal retirement from the University, under the following conditions:

            1. there was no financial incentive or enhanced benefit attached to the retirement of the staff member;
            2. the staff member possesses professional or academic expertise needed to support research/creative activity, education and service activities of the University; and
            3. an honorary appointment cannot be held concurrently with a post-retirement appointment.

             

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