Additional retrenchment lump sum for old scheme State Scheme contributors
12 Additional retrenchment lump sum for old scheme State Scheme contributors
This clause applies where—
an additional retrenchment lump sum is payable as a result of an election by an employee under clause 10(7)(e), 10(7)(f) or 10(9)(e); or
an additional retrenchment lump sum is payable under clause 10(11).
The additional retrenchment lump sum is calculated as follows:
Where—
ALS is the additional retrenchment lump sum n is the number of years (including any fraction of a year measured in days) in the period from—
the date determined by taking the date of retrenchment and adding to that date—
the number of days in the period of notice in lieu of which a lump sum is paid on retrenchment to the employee; and
the number of days in the period in respect of which a lump sum is paid to the employee under a redeployment or redundancy agreement;
to
the date the employee would reach his or her age of retirement
FS is the employee's salary as at the date of retrenchment.
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