51. Voluntary Early Retirement Scheme

51.1 The University may offer a voluntary early retirement scheme to full-time or fractional continuing staff. Eligible staff will be invited to apply for early retirement under the benefits of the scheme. The University, through its authorised officers, will have the discretion to decide whether or not it will approve the application having regard to the staffing needs of the University. The benefit payable to staff members whose application for early retirement is approved will be a lump sum of a minimum of two weeks' salary for each year of service, with a maximum payment of 52 weeks' salary. This benefit will be additional to the staff member's other entitlements on retirement.