(1) This Policy has been developed to support a staff members’ transition to retirement and to assist the University implement effective succession planning. (2) ACU recognises that every staff member’s transition to retirement is both personal and unique. As part of ACU’s work and life balance strategy, the University seeks to support staff members that are transitioning to the next stage of their life through providing a range of pre-retirement arrangements. (3) The University recognises that there may come a time when a staff member may wish to plan their transition to retirement. This Policy outlines a range of pre-retirement arrangements which can be tailored within a framework to achieve mutually beneficial outcomes for the staff member and the University. (4) This Policy applies to all Academic Staff and Professional Staff employed on a 0.5 fraction or greater who are eligible to access their superannuation at the end of the pre-retirement agreement. (5) A staff member may enter into mutually agreed pre-retirement arrangements to set a future retirement date and, for a period of 1 to 5 years before retiring, reduce their employment fraction to normally not less than a: (6) During this period the University and the staff member will continue to contribute to the respective superannuation schemes at the salary rate applicable to the staff member’s full-time or part-time salary rate prior to the commencement of this arrangement. (7) In circumstances where a Superannuation Fund does not accept employer contributions made on behalf of staff members, the University will make contributions to salary so that the staff member receives the balance as salary (or a combination of salary and compulsory superannuation contributions). (8) A staff member’s employment fraction, the duration of a pre-retirement agreement, the workload and the loading determined as part of a pre-retirement agreement will be negotiated between the staff member and the University to achieve mutually beneficial outcomes. (9) A staff member may negotiate a phased reduction in their fraction as part of their pre-retirement agreement as long as this is consistent with clause 5. (10) Complementing arrangements may be negotiated as part of the pre-retirement agreement period such as the taking and/or cashing out of Annual Leave and/or Long Service Leave, periods of Leave Without Pay and refocusing of the staff member’s career pathway, workload and working hours. (11) In cases where a staff member who has entered into a pre-retirement agreement reaches the prescribed age at which employer contributions must cease, then the University’s superannuation contribution will be paid as salary (or a combination of salary and compulsory superannuation contributions). (12) The relevant Executive member is authorised to approve the arrangements of a pre-retirement agreement following advice from People and Capability. (13) The revision table includes revisions up until this document was migrated into the current policy platform. Any later changes will show in the Status and Details tab. (14) The University may make changes to this Policy from time to time to improve the effectiveness of its operation. In this regard, any staff member who wishes to make any comments about this Policy is welcome to forward their suggestions to People and Capability. (15) Any staff member who requires assistance in understanding this Policy should first consult their nominated supervisor who is responsible for the implementation and operation of these arrangements in their work area. Should further information or advice be required staff should visit Service Central. (16) For related legislation, policies, procedures and guidelines and any supporting resources please refer to the Associated Information tab.Pre-Retirement Agreement Policy
Section 1 - Background Information
Section 2 - Policy Statement
Section 3 - Policy Purpose
Section 4 - Application of Policy
Section 5 - Approvals
Section 6 - Revisions made to this Policy
Date
Major, Minor or Editorial
Description
10 April 2014
Major
This policy has been updated to incorporate the relevant provisions of the Australian Catholic University Staff Enterprise Agreement 2013 - 2017.
30 March 2021
Major
This policy has been updated to reflect a changed approach to the application of the policy and associated staff benefits in pre-retirement agreements.
Section 7 - Further Assistance
Section 8 - Associated Information
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