Conversion to a Fixed-term Pre-Retirement Contract - Procedures

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Conversion to a Fixed-term Pre-Retirement Contract - Procedures

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Approval authority
Vice-Chancellor and President
Responsible officer
Vice-Chancellor and President
Designated officer
Director, Human Resources
First approved
19 November 2014
Last amended
5 January 2015
Effective start date
5 January 2015
Review date
19 November 2019
Status
Active
Related documents
Conversion to a Fixed-term Pre-Retirement Contract - Managerial Policy
Related legislation / standards
USC Enterprise Agreement

Definitions

A fixed-term appointment is an appointment which has a specific commencement date and a specific end date.

An ongoing appointment is employment for an indefinite period and is other than a fixed-term or casual appointment.

A pre-retirement contract is a fixed-term contract of employment entered into by the University with a staff member who has indicated a willingness to commit to a retirement date. A pre-retirement contract supersedes any pre-existing contract/s of employment. The term of a pre-retirement contract is normally between one and three years.

Preservation age is the age at which a person can access their superannuation upon permanent retirement from the workforce. A person’s preservation age is determined by the year the person was born.

A salary loading means an amount paid in addition to base salary. For the purposes of a pre-retirement contract with the University of the Sunshine Coast, a salary loading of 10% is payable.

1. Purpose of procedures

These procedures outline the process for an eligible University staff member to apply to convert their ongoing appointment to a fixed-term pre-retirement contract and make clear the requirements of Senior Officers of the University to ensure administrative responsibilities are fulfilled and policy principles are implemented effectively.

2. Procedures

2.1 While the University generally encourages the use of pre-retirement contracts, they are not an entitlement, and can only be agreed when the cost of the pre-retirement contract is offset by a resulting benefit or gain to the University.

2.2 Eligible staff who are considering applying for conversion to a fixed-term pre-retirement contract should discuss their intention to apply with their supervisor before submitting an application.

2.3 An application form is available and specifies:

a) the position and level of appointment;

b) the start and end dates of the contract;

c) the hours of work; for example, the staff member can seek to work full-time, part-time or a combination of both over the term of the contract;

(d) (i) if the applicant has a full-time ongoing appointment and seeks to reduce their time fraction for all or part of the term of the pre-retirement contract, whether or not they choose to contribute to superannuation at the full-time loaded rate (in which case the University will also pay the employer contribution at the full-time loaded rate);

(ii) if the applicant has a fractional appointment and seeks to further reduce their time fraction for all or part of the term of the pre-retirement contract, whether or not they choose to contribute to superannuation at the fractional loaded rate that applied immediately prior to the commencement date of the pre-retirement contact (in which case the University will maintain that rate of employer contributions);

(e) for annual leave and Long Service Leave (if applicable), whether or not the applicant seeks to:

(i) be paid out at the conclusion of the ongoing appointment at the unloaded rate and a new balance commence for the period of the fixed-term pre-retirement contract; or

(ii) carry over entitlements to the pre-retirement contract.

f) confirmation that the applicant has sought independent financial and superannuation advice.

2.4 The application form is submitted to the Cost Centre Manager for approval.

2.5 If approved, the Director, Human Resources will confirm in writing:

(a) the termination of the applicant’s ongoing appointment; and

(b) the terms and conditions of the fixed-term pre-retirement contract.

3. Responsibilities

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Activity University Officer
Receive and approve or not approve applications for pre-retirement contracts Cost Centre Manager
Confirm in writing the termination of ongoing appointments in writing and the terms and conditions of the fixed-term pre-retirement contract of employment Director, Human Resources
Monitor and report on applications for and approvals of pre-retirement contracts annually Director, Human Resources

END

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