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TZV REDUNDANCY POLICY |
NOTE: We do not give financial advice - check your entitlements before acting
TZV policy applies the Victorian Public Service Policy - Vic Govt Redundancy Policy
Key Benefits
Redeployment is a desired outcome but in many cases it will be an involuntary redundancy.
If terminated the following benefits apply
Notice benefit
This varies depending on years of service. The required minimum period of notice as provided in the NES is:
Retrenchment benefit
This varies depending (mainly) on years of service. If retrenched you will be paid (in addition to the notice period).
CWU example
Say you have 25 years service and age is over 45.
Long Service Leave
Employees will receive
pro-rata long service leave if they have completed 7 or more years of service.
Pay out of all accumulated annual leave
Pay out of all accumulated long service leave
Payment of Notice benefit
Payment of retrenchment benefit
Employee's period of service Period of notice
Not more than 1 year At least 1 week
More than 1 year but less than 3 years At least 2 weeks
More than 3 years but less than 5 years At least 3 weeks
More than 5 years At least 4 weeks
The minimum period of notice above is increased by one week if the employee is over 45 years of age and has completed at least 2 years' continuous service.
4 weeks' of pay, irrespective of length of service; plus
1 additional week pay if over 45 years of age
2 weeks' pay for each completed year of service to a maximum of 10 years
Notice 4 weeks + 1 week = 5 weeks
Retrench 4 weeks + 1 week + 2x10 weeks = 25 weeks
Total = 5 weeks + 25 weeks = 30 weeks
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