THIS COLLECTIVE AGREEMENT is made pursuant to the ... - NTUC

NGEE ANN POLYTECHNIC ACADEMIC STAFF AGREEMENT, 2011Schedule II(Clause 15)IntroductionSPECIAL GRATUITY SCHEME (SGS)The Special Gratuity Scheme (SGS) has been drawn up to give management thediscretionary power to pay a separation benefit in the form of a special gratuity to facilitate therelease of selected employees. The SGS is not a right of the employees but a managementtool to ease the departure of selected employees who have stagnated in their careers.Eligible CandidatesAt least 15 years of service.At least 40 years old.Stagnated in substantive grade for the last 5 years if 45 years old or less (this is notapplicable if the employee is more than 45 years old).Must not have any record of poor conduct within the last 5 years.Must not have obtained an “E” performance grading in the last 12 months from thedate of his application.Note - An employee under the PRP will not be offered the SGS.AgeBelow 57 years11 monthsBelow 57 yearsand 11 monthsand 60 yearsOver the age of60 yearsComputation of Special GratuityComputation Formula50% of the employee's last drawn gross salary times completeyears of service and proportionately thereof for any completemonths up to 25 years of service.The lower of -(a) 50% of the employee's last drawn gross monthly salarytimes complete years of service and proportionately thereoffor any complete months up to 25 years of service; or(b) 50% of the employee's last drawn gross salary payable forthe remaining period up to 60 years, provided that theamount shall not be less than 4.165 months' salary.The lower of -(a) 50% of the employee's last drawn gross monthly salarytimes complete years of service and proportionately thereoffor any complete months, provided that the amount shall notbe more than 4.165 months' salary; or(b) 50% of the employee's last drawn gross salary payable forthe remaining period up to 62 years.CA 75 of 2011 Page 28 of 61Ngee Ann Polytechnic Academic Staff Agreement, 2011ASCA( NC 290711)