The Treasury

Type:
NSW Industrial Relations Circular
Identifier:
TC15-14
Status:
Archived

TC15-14 Superannuation Retrenchment Benefits

Description

Employees who accept an offer of voluntary redundancy may be entitled to be paid a superannuation benefit as a result of the termination of their employment.

 

Function and Subject

Industrial Relations (1)
Conditions of Employment

Detailed Outline

Employees who accept an offer of voluntary redundancy may be entitled to be paid a superannuation benefit as a result of the termination of their employment.

Some superannuation schemes provide specific redundancy (retrenchment) benefits to eligible members. Employees will only be entitled to be paid a superannuation retrenchment benefit if the reason stated by their employer for their termination of employment comes within the meaning of retrenchment in the schemes' rules.

A Judgment handed down in the NSW Supreme Court, for example, found that a former employee who accepted voluntary redundancy was not entitled to a retrenchment benefit from the State Superannuation Scheme because the reason stated by the employer for his termination of employment was not consistent with any of the grounds defined for retrenchment in the Superannuation Act 1916.

 

Overview

Who needs to know and/or comply with this?

Departments
Executive agencies related to Departments
Separate agencies
Statutory Authorities/Bodies

AR Details

Date Issued
Jun 26, 2015
Review Date
Jun 26, 2020
Replaces
Replaced By

Contacts

Contact
psir@industrialrelations.nsw.gov.au
Phone
(02) 9228 4567
Publishing Entity
The Treasury
Issuing Entity
The Treasury