Redundancy Payments Sample Clauses
The Redundancy Payments clause outlines the employer’s obligation to provide compensation to employees who are dismissed due to redundancy, meaning their position is eliminated rather than terminated for cause. Typically, this clause specifies the calculation method for redundancy pay, such as basing it on the employee’s length of service and salary, and may detail eligibility requirements or exclusions. Its core function is to ensure financial support for employees who lose their jobs through no fault of their own, thereby offering a safety net and clarifying the employer’s responsibilities in such situations.
POPULAR SAMPLE Copied 1 times
Redundancy Payments.
8.7.1 Calculations of redundancy payments will be made in accordance with the Local Government Redundancy Payments Regulations (as amended). There is no automatic entitlement to enhanced payments under this scheme, but consideration to the granting of enhanced payments will be given. Any variation to the amount of redundancy compensation is at the sole discretion of the Council’s Personnel Committee.
Redundancy Payments. For redundancy under the terms of this Agreement, the following package shall apply:
17.11.1 Three (3) weeks' pay for each year of service up to and including five (5) years' service, with a minimum of four (4) weeks' pay.
17.11.2 Four (4) weeks' pay for each completed year of service in excess of five (5) years; and
17.11.3 Pro-rata payment for each completed month of service.
17.11.4 The above mentioned payments do not include payments in lieu of notice.
Redundancy Payments. Payment per week will be paid into a redundancy fund in respect to each tradesperson. Refer to Appendix 2 for rates and increments.
Redundancy Payments. All Employees, inclusive of casuals, are entitled to redundancy benefits through payments made by the Employer to Redundancy Fund ("the Redundancy Fund payment") by the Company on their behalf. All contributions paid in accordance with the provisions of this clause will be paid on a monthly basis.
Redundancy Payments. (a) Redundancy payments shall be calculated on the basis of three (3) Weeks' Pay for each completed year of continuous service (except for the first year of service, where four (4) weeks’ pay will apply), or part thereof, to a maximum payment, excluding payment in lieu of notice, of fifty-two (52) Weeks' Pay.
Redundancy Payments. (a) Employees made redundant shall be entitled to receive the following redundancy payments in addition, to separate entitlements to Special Leave, Annual Leave, Long Service Leave and Personal Leave Payout entitlements as well as their full share of the South East Fibre Exports Superannuation Plan as determined in line with the provisions of the Trust Deed.
(b) Redundancy payments at current salary level will be paid to each employee as follows:
(i) Four (4) weeks pay, plus
(ii) Three (3) weeks pay for each completed year of service in the case of Voluntary Redundancy or
(iii) Four (4) weeks per year of service in the case of forced redundancy only.
(iv) The payments prescribed in (o), (i), (ii) and (iii) shall not exceed a combined total of 78 weeks pay.
(c) In the case of voluntary redundancy only, employees over the age of forty (40) years shall be entitled to one week’s pay for each year of service completed after they have attained the age of forty in addition to the payments prescribed in sub-clause (o)
(d) Notwithstanding the provisions for payment set out in (o) and (p) above, an employee shall not be entitled under this severance pay provision to payments in excess of those he/she would have received in ordinary pay had he/she remained with the Company until the nominal retirement date, that being the date they turn 65 years of age
(e) Where an employee takes up employment away from the Eden area which requires the employee and his/her family to relocate within six (6) months of being retrenched, the Company will reimburse removalist expenses to a maximum of $1,500 subject to the following conditions:
(f) Reimbursement by the Company will not be made where the employee is entitled to assistance under the Relocation Assistance Scheme administered by Centrelink.
(g) To qualify for reimbursement from the Company affected employees must provide the Company with accounts and/or receipts relating to all removalist expenses incurred.
Redundancy Payments. For redundancy under the terms of this Agreement, the following package shall apply:
Redundancy Payments. (a) For under 12 months weekly service - Nil.
(b) For each completed year of service, after 1 year, an employee made redundant shall receive three weeks pay for each year of service up to a maximum of sixty (60) weeks pay.
Redundancy Payments. An employee who has been continuously employed for a period of more than twelve (12) months, will be entitled to a severance payment of an amount stipulated in Clause 42.3, where his/her employment has been terminated for any of the following reasons :
Redundancy Payments. The Company has not adopted, whether informally or formally and whether in writing or otherwise, any policy or practice of making redundancy payments in excess of statutory minima nor has it historically made any such redundancy payments.