8.9 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 8.4.6 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 will be based on the following:

1. twelve (12) weeks' salary conditional upon cessation of employment no later than the end of the semester in which the notice under sub-clause 8.4.6 has been given to the staff member, or another date mutually agreed with the University; plus
2. two (2) weeks' salary for each completed year of service,
3. capped at seventy-eight (78) weeks' salary.