Redundancy pay schemes Sample Clauses

A redundancy pay schemes clause outlines the compensation arrangements for employees who are dismissed due to redundancy. It typically specifies the eligibility criteria, calculation methods for redundancy payments, and the process for determining the amount owed, such as basing payments on length of service or salary. This clause ensures that employees receive fair financial support when their roles are eliminated, providing clarity and legal compliance for both employers and employees during workforce reductions.
Redundancy pay schemes. (a) Where an employer terminates the employment of an employee and the employer incurs a redundancy pay obligation to the employee under this clause, some or all of the benefit the employee receives from a redundancy pay fund may be set off against the employer’s redundancy pay obligation under this clause, subject to the following conditions. (b) If the employee receives a benefit from the redundancy pay fund, the employer may set off any proportion of the benefit which is attributable to the employer’s contribution to the fund against its redundancy pay obligation under this clause. If the proportion so calculated is equal to or greater than the employer’s redundancy pay obligation under this clause the obligation will be fully satisfied. (c) If the employee does not receive a benefit from the redundancy pay scheme, contributions made by an employer on behalf of an employee to the scheme will, to the extent of those contributions, be set off against the liability of the employer under this clause and payments to the employee will be made in accordance with the rules of the redundancy pay scheme fund or any agreement relating thereto. If the contribution is equal to or greater than the employer’s redundancy pay obligation under this clause the obligation will be fully satisfied. The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992.
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Redundancy pay schemes. The Employer may offset an Employee’s redundancy pay entitlement in whole or in part to a redundancy pay scheme; provided that where the employment of an Employee is terminated and 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.
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Redundancy pay schemes. (a) The 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 10.5 then the Employee will receive no redundancy payment under clause 10.5; or (ii) the Employee does not receive a benefit from a redundancy pay scheme, contributions made by the 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 10.5, 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 Agreement 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). ACIRT is an approved worker entitlement fund. Protect is an approved worker entitlement fund.
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Related to Redundancy pay schemes

  • 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

  • SALARY SACRIFICE ARRANGEMENTS 34.1 Employees covered by this Agreement will have access to salary sacrifice arrangements in addition to the compulsory arrangement detailed above. The requirements of any such arrangements shall ensure that: (a) Accessing a salary sacrifice arrangement is a voluntary decision to be made by the individual Employee. (b) An Employee wishing to enter into a salary sacrifice arrangement will be required to notify their Employer in writing of the intention to do so and have sought expert advice in relation to entering into such an arrangement. (c) The Employer shall meet the cost of implementing the administrative and payroll arrangements necessary for the introduction of salary sacrifice to the Employees under the Agreement. (d) The co-contribution of superannuation payments referred to herein shall be made by way of salary sacrifice arrangements.

  • Intercarrier Compensation Except as specifically described in this Section, the Agreement does not change or amend applicable intercarrier compensation arrangements (including but not limited to Switched Access, Signaling, or Transit charges) between any parties, including between Qwest and Carriers or IXCs.

  • 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).

  • 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.