• Section 2 - Application
• Section 3 - Roles and Responsibilities
• Section 4 - Eligibility
• Section 5 - Superannuation and other Benefits
• Section 6 - Guidelines and Conditions
• Application and Approval
• Pre-retirement Salary Loading
• Part-time Employment
• Leave
• Performance Management
• Termination
• Re-engagement by the University
• Section 7 - Exceptions to Policy
• Section 8 - Delegations

(1) Eligible staff have the opportunity to enter into retirement arrangements in order to provide flexibility for staff planning their retirement and to support the University in workforce planning.

(2) A staff member who is willing to commit to a retirement date may apply to enter into a pre-retirement fixed-term appointment with the university. Access to a pre-retirement fixed-term appointment is not an entitlement and will be negotiated on a case by case basis subject to the organisational needs of the university.

(3) A pre-retirement fixed-term appointment is one in which a staff member elects to enter into a single non-renewable fixed-term appointment. This means an individual, in their application, would request to change their current appointment with the university, which may be an on-going appointment, to a fixed-term appointment.

(4) Once a pre-retirement fixed-term appointment is entered into, the arrangements become the staff members substantive employment terms and conditions. These would be transferred with the staff member to any new position taken up during the period of the pre-retirement fixed-term appointment.

(5) In return for opting for a pre-retirement fixed-term appointment, the staff member shall receive a pre-retirement salary loading, negotiated on a case by case basis, in addition to their annual base salary. A staff members other terms and conditions of employment, unless otherwise specified, remain the same.

Section 2 - Application

(6) This Policy applies to all staff of the University.

Section 3 - Roles and Responsibilities

Section 4 - Eligibility

(7) In accordance with the Age Discrimination Act 2004 there is no compulsory retirement age.

(8) Retirement for the purposes of this policy means the preservation age determined by the Superannuation Industry (Supervision) Regulations 1994 as the age at which benefits can be accessed. For example, a staff member born before 1 July 1960 can access superannuation benefits at 55 years of age.

(9) A staff member may apply for a pre-retirement fixed-term appointment if they will be eligible for retirement on the expiration date of the pre-retirement fixed-term appointment.

Section 5 - Superannuation and other Benefits

(10) Entering into a pre-retirement fixed-term appointment may alter an individual's entitlement to superannuation and other benefits.

(11) Consideration of the impact on superannuation and other benefits, such as salary packaging, is the responsibility of the staff member. Staff should seek independent financial advice and may contact their superannuation fund prior to committing to a pre-retirement fixed-term appointment.

Section 6 - Guidelines and Conditions

Application and Approval

(12) A staff member may apply for a single non-renewable pre-retirement fixed-term appointment, by submitting a written proposal to the Executive Dean of faculty/Head of Portfolio. Where the Executive Dean of faculty/Head of Portfolio supports the request it should be submitted to the relevant Head of Division for approval. If approved the Executive Dean of faculty/Head of Portfolio will advise the Vice-President (People) and Chief People Officer of the approval, in writing.

Pre-retirement Salary Loading

(13) The salary loading applicable to a pre-retirement fixed-term appointment is expressed as a percentage of the staff member's base annual salary.

(14) For staff members who have chosen their own superannuation fund and members of UniSuper Defined Benefit and Accumulation Plans, a pre-retirement salary loading will by default be included as salary for superannuation purposes.  A staff member may elect to opt out of this arrangement in writing.

(15) However, QSuper will not accept a pre-retirement salary loading as a superannuable loading for the purposes of the QSuper Defined Benefit Plans.

Part-time Employment

(16) A staff member may apply to the Executive Dean of faculty/Head of Portfolio to convert to part-time employment as part of their pre-retirement fixed-term appointment. The duties to be performed should be agreed prior to the approval of the appointment. Leave entitlements will be pro-rated accordingly.

(17) Staff considering this option should seek independent financial advice on the impact to existing superannuation, salary sacrifice and other benefits.

Leave

(18) Recreation leave, personal leave and long service leave will continue to accrue at the relevant rate during the period of the pre-retirement fixed-term appointment.

(19) It is recommended that all recreation leave be exhausted prior to the conclusion of the pre-retirement fixed-term appointment.

Performance Management

(20) The University's performance expectations continue to apply to the staff member's performance during the term of the pre-retirement fixed-term appointment.

Termination

(21) A staff member who enters into a pre-retirement fixed-term appointment is not entitled to a redundancy, termination or early retirement payment at the cessation of their pre-retirement fixed-term appointment.

(22) A pre-retirement fixed-term appointment can be terminated by:

1. the expiry date of the fixed term appointment being reached;
2. the resignation of the staff member before completion of the appointment;
3. unsatisfactory performance; and
4. the University, but only in the case of serious misconduct in accordance with the relevant industrial instrument.

Re-engagement by the University

(23) Staff entering into a pre-retirement fixed-term appointment do so on the clear understanding that they are terminating their employment with the university at the cessation of the fixed-term appointment.

(24) Re-engagement by the university will not be considered. This restriction includes engagement as an independent consultant or under a company name or partnership.

Section 7 - Exceptions to Policy

(25) The Vice-President (People) and Chief People Officer is authorised to approve variations to this policy in exceptional circumstances. Any such variation will be recorded by Human Resources.

Section 8 - Delegations

(26) Refer to Register of Authorities and Delegations (VC086) (QUT staff access only).