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Pre and Post Retirement FAQ's
Staff voluntarily agree to move to a .5 fractional appointment for a maximum period of 24 months. The University will maintain full time superannuation contributions. The University will reimburse up to $1,000 for financial/superannuation advice if you sign a pre-retirement contract. A $15,000 incentive payment will be made to staff in July 2020 who are approved on pre-retirement contract by 30 June 2020.
Commence pre-retirement by: 31 July 2020
Staff nearing retirement age who may be considering retirement are guaranteed casual employment for two (or more) teaching sessions across the 2022/2023 academic years (hours and sessions to be determined). Academic staff are given the opportunity of adjunct status to be conferred for five years. Professional staff are given an opportunity for “Professional Adjunct” status. Professional staff are given the opportunity to apply for any Western positions that are advertised as “internal only” from 2021. A $20,000 incentive payment will be made to staff in July 2020 who apply and are approved on a post-retirement contract by 30 June 2020.
Retire by: 31 July 2020
Applies to: Available to all eligible ongoing staff. Not available to members of Executive.
Frequently Asked Questions
When do pre and post-retirement contracts commence?
Pre-retirement contracts would begin no later than 30 June 2020. Post-retirement contracts are to commence by 31 July 2020. These are the only terms and conditions that the University is providing currently, there are no other conditions in regard to post-retirement contracts.
Are pre and post-retirement contracts only for teaching?
All ongoing staff - academic and professional may apply for a pre or post-retirement contracts.
Are pre and post-retirement contracts open to all staff or just staff over a certain age?
The pre-retirement contract options are available to employees who will reach retirement age within 2 years. Post-retirement contracts are available to employees who can retire by 31 July 2020. Employees should seek information from their superannuation provider in respect to when they meet eligibility to access their benefits on retirement.
What is the financial incentive proposed by the University for pre and post-retirement contracts?
For Pre-retirement contracts, a $15,000 incentive payment will be made to staff in July 2020 who are approved on pre-retirement contract by 30 June 2020.
For Post-retirement contracts, a $20,000 incentive payment will be made to staff in July 2020 who apply and are approved on a post-retirement contract by 30 June 2020.
The University will also reimburse up to $1,000 for financial/superannuation if you sign a pre or post-retirement contract with proof of the payment being made.
Is the $15,000 incentive payment taxed at the full rate?
Is superannuation still paid at 100% of salary even though hours are reduced to 0.5?
Yes, superannuation will remain at 100%.
Does it have to be 0.5, can it be another fraction, e.g. 0.6
Yes, it does have to be 0.5, no other fractional options are available.
Are the pre and post-retirement contracts available to fixed-term contracts or just ongoing positions?
The pre and post-retirement options are only available to ongoing employees, except for employees who are currently on a post retirement contract with at least 12 months to run, who may elect to retire immediately (before 31 July 2020) under the post-retirement conditions.
I have an ongoing fulltime role at the University but via a variation I am currently working part time for the next 24 months. If I was to elect the pre-retirement option would the university superannuation contribution while I continue working part time be at 100% of my FTE salary or 100% of my current fraction when I move to FTE 0.5?
If I am currently on ADP can I continue if I choose Post Retirement Option?
No, your employment with the University needs to end by 31 July 2020.
I am a current part-time (0.5) employee. Can I access a pre-retirement contract?
What happens if one goes ahead with the advice but gets a recommendation not to go ahead with the pre-retirement and decides not to take it up? Does the university still pay the $1,000?
No, the $1,000 is only payable if you commence a pre or post-retirement contract.
Is there an age limit to take the pre-retirement package?
There is no set age limit however, the intent of this arrangement is that the employee will be retiring at the end of the contract period. The pre-retirement contract options are available to employees who will reach retirement age within 2 years. Post-retirement contracts are available to employees who can retire by 31 July 2020. Employees should seek information from their superannuation provider in respect to when they meet eligibility to access their benefits on retirement.
Is the usual transition to retirement (the 3-year option) still being offered?
Not while this initiative is active.
If a contract is agreed to for 24 months, could it be shortened to 12 months for example, with a certain amount of notice?
Yes. Details would need to be discussed with the appropriate unit head at the time.
Are pre and post-retirement contracts available to Senior Staff?
Yes, except for Executive. Please discuss this with your Senior HR Partner to confirm your eligibility.
Is the incentive payments for pre and post retirement options and $1000 towards superannuation consultation prorated for part time employees?
Yes, the Incentive payment for pre-retirement $15000 (gross) and post retirement $20,000 (gross) is pro-rated for part time employees. The University will also pay $1000 (gross) to employees toward their superannuation consultation meeting if they accept the pre or post retirement contracts. This is a gross payment and is not prorated for part time employees. Evidence of the meeting and expenditure will be required.