8.7 VOLUNTARY RETIREMENT
A staff member who is within two (2) years of the eligible retirement date prescribed by their superannuation fund and who is provided with notice of redundancy in accordance with sub-clause 8.3.4 may apply for voluntary early retirement. If the University approves an application from a staff member for voluntary early retirement, the benefit payable to a staff member shall be based on the following:
(iii) twelve (12) weeks’ salary conditional upon cessation of employment no later than the end of the semester in which the notice under sub-clause 8.3.4 has been given to the staff member, or another date mutually agreed with the University; plus
(iv) two (2) weeks’ salary for each completed year of service,
(iii) capped at seventy-eight (78) weeks’ salary.
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