Redundancy pay scheme Sample Clauses

Redundancy pay scheme. (a) An Employer may offset an Employee’s redundancy pay entitlement in whole or in part by contributions to a redundancy pay scheme. (b) Provided that where the employment of an Employee is terminated and: (i) the Employee receives a benefit from a redundancy pay scheme, the Employee will only receive the difference between the redundancy pay in this clause and the amount of the redundancy pay scheme benefit the Employee receives which is attributable to Employer contributions. If the redundancy pay scheme benefit is greater than the amount payable under clause 14.3 then the Employee will receive no redundancy payment under clause 14.3; or (ii) the Employee does not receive a benefit from a redundancy pay scheme, contributions made by an Employer on behalf of an Employee to the scheme will, to the extent of those contributions, be offset against the liability of the Employer under clause 14.3, and payments to the Employee will be made in accordance with the rules of the redundancy pay scheme fund or any Agreement relating thereto. The Employee will be entitled to the fund benefit or the Award benefit whichever is greater but not both. (c) The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992 (Cth).
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Related to Redundancy pay scheme

  • Redundancy Pay A redundant employee will receive redundancy/severance payments, calculated as follows, in respect of all continuous service (as defined by this Agreement) with the employer. Period of continuous service with the employer Redundancy/severance pay

  • Redundancy Contributions 25.1 The Employer is, and will remain during the life of this Agreement, a member of the Redundancy Payment Approved Worker Entitlement Fund 1 (“Incolink Number 4 Fund”) of which Redundancy Payment Central Fund Ltd ("Incolink") is trustee or an equivalent approved worker entitlement fund that is administered and/or managed by Incolink (the “Nominated Redundancy Fund”). References in this clause to "Nominated Redundancy Fund" include a reference to another fund for comparable purposes nominated by Incolink for the purposes of this Agreement as a fund which supersedes the Incolink Number 4 Fund. 25.2 All Employees of the Employer will be enrolled by the Employer in the Nominated Redundancy Fund and be entitled to Redundancy benefits in accordance with the terms of the relevant Trust Deed. 25.3 The Employer will pay a minimum of $160 to the Nominated Redundancy Fund on behalf of each Employee on a weekly basis (except where Clause 25.4 applies) in accordance with the trust deed or other governing documents, save that if Incolink nominates any other fund under clause 25.1 the Employer will 25.4 Redundancy contributions on behalf of Employees who have entered in to a part-time/job sharing arrangement under clause 14.2 will be pro-rated. For clarity casual Employees are entitled to the full contribution at clause 25.3 above. 25.5 The liability of the Employer to pay redundancy payments to an Employee under this clause will be met by the making of the contributions on behalf of the Employee required as a member of the Nominated Redundancy Fund, or by another fund nominated by Incolink under clause 25.1.

  • Redundancy 21.1 Subject to the following procedure, it is agreed that it is the Employer’s prerogative to determine the order of selection of Employees for employment or retrenchment. 21.2 All relevant legislation governing unfair dismissal, discrimination etc. will be observed. 21.3 Voluntary terminations will be encouraged as a first step. 21.4 The seniority of Employees - within classifications, experience or skills held - will be observed by the Employer in selecting Employees for retrenchment. 21.5 The dispute settlement procedures set out in Part 2 will apply in the event of any concerns arising regarding retrenchments. 21.6 An Employee is entitled to access their Redundancy payments when they cease to be employed by the Employer. The amount of the Redundancy payment shall be whichever is the greater of the entitlement due under the Award as in force from time to time or the entitlement of the Employee under the Nominated Redundancy Fund trust deed (or under the constituting documents of any fund nominated by Incolink under this clause). Note that the industry-specific Redundancy scheme prescribed by the Award as in force from time to time is expressly incorporated into this Agreement (including for clarity, in respect of work falling within the scope of clause 4.2).