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Pre-Retirement

Introduction

Academic or General staff who wish to reduce their time commitment during the latter part of their careers at the university may wish to apply for Pre-Retirement appointment as detailed below.

Participation in the scheme is voluntary and is covered by the Monash University Enterprise Agreement (Academic and General Staff) 2005 (the Agreement) or, where applicable, the relevant AWA Terms and Benefits Policy.

Eligibility

Staff in continuing employment are eligible to participate in the scheme when they are within five years or less of being eligible to receive a retirement benefit from their superannuation scheme. Staff need not be full-time (1.0) to be eligible.

Terms of the Pre-Retirement appointment

Pre-Retirement appointments are to be limited to fractions of not less than 0.3 and not more than 0.8 of full-time.

The workload and pattern would be determined by the Head of Administrative Unit and approved by the Head of the Administrative Group, according to a role and responsibilities, agreed between the Head and the staff member, appropriate to the fraction of full-time appointment.

Further reductions in fraction, within the specified limits, may be agreed at any time, to a new fraction of not less than 0.3.

Transfer to fixed-term appointment

Eligible Staff will transfer to a fixed-term fractional contract of no greater than five years in length.

Further fixed-term contracts may follow.

Superannuation support

Eligible staff members will transfer to a fixed-term appointment with the University paying a subsidy to maintain employer UniSuper Defined Benefit Division/ Accumulation 2 contributions (or equivalent State Superannuation provisions) at the rate applicable for the former substantive continuing appointment.

The staff member will make superannuation staff member contributions at the level appropriate to his/her new fraction of appointment. The University will also provide a subsidy payment sufficient to ensure the retention of superannuation benefits appropriate to the former substantive continuing appointment.

University leave

Annual leave, sick leave and long service leave will accrue at the new fractional rate with adjustment of entitlement to provide fully for prior service. The fraction of appointment may be adjusted for a period to facilitate clearing any excess annual and long service leave credits.

Approval

The Vice-Chancellor (or nominee), on the recommendation of the Dean or equivalent, may approve a request for early retirement with supplementary payment based on an appropriate scheme being available and any benefit normally being determined against the former substantive appointment with the retirement benefit reduced by supplementary payments made under this scheme.

Ineligible to apply for conversion to continuing employment

Employees who transfer to a Pre-Retirement fixed term contract will be ineligible for conversion to continuing appointment.