果冻影院

Details of 果冻影院鈥檚 Voluntary Resignation Scheme which closed on Sunday 15 January 2023. Applications are under review, and outcomes will be communicated in February.

Contents

1. Introduction
2. Eligibility to apply
3. Details of the scheme
4. The payment
5. Application and approval process
6. Disclaimer

Appendix 1: Voluntary Resignation Scheme FAQs听
Appendix 2: Pension FAQs听
Appendix 3: Examples of Voluntary Resignation payments

Introduction

1. A voluntary resignation scheme, also known as a mutually agreed voluntary resignation scheme, is a scheme under which an individual employee, in agreement with their employer, voluntarily resigns from their employment in return for a severance payment.听 It is not a redundancy, voluntary or otherwise.
2. Job vacancies created by a voluntary resignation scheme can be redesigned, with the work done differently, or the vacancy may be backfilled, if a saving can be found elsewhere in the budget.听听听
3. A voluntary resignation scheme provides an opportunity for eligible staff who wish to pursue other interests or careers elsewhere, to do so with the support of a financial package.听
4. The 果冻影院 Voluntary Resignation Scheme (鈥渢he Scheme鈥�) is open for a limited window only from Monday 28 November 2022 to midnight Sunday 15 January 2023. Applications received after Sunday 15 January 2023 will not be considered.
5. Managers should ensure their staff are aware of the Scheme, particularly those who are away from work, e.g., on parental leave, or long-term sickness absence, who may not have regular access to 果冻影院 email communications.听

Eligibility to apply

6. All employees are eligible to apply under the Scheme except those who:听

• are on a fixed term contract which is due to come to an end on or before 27 November 2025.

• are funded solely by external research grants and innovation awards and do not hold a core funded substantive post.

• are named researchers on a project whose departure would adversely impact on the funding and/or completion of the project.

• are being investigated under the disciplinary procedure; or are due to attend a hearing under the disciplinary procedure.

• have been notified that they are at risk of redundancy.

• have been notified that they are considered in scope to transfer to another organisation under TUPE.

• have accepted a job offer with another employer.听听听听听听听听

• have already given or received notice terminating their contract of employment with 果冻影院.

• have been expressly informed by the Dean & Director of Operations, Vice Provost or Vice President (as appropriate), before the Scheme opens, that their role will not be eligible due to operational requirements.

7. If an employee has multiple posts, an application may be made in relation to any of these post(s) if they meet the eligibility criteria.

Details of the scheme

8. The Scheme will be open for applications from Monday 28 November 2022 up until midnight on Sunday 15 January 2023.
9. The Scheme is entirely voluntary, and no-one will be encouraged to apply or deterred from applying (unless they or their post is exempt, see eligibility above).听However, once an application is submitted this will normally be on the understanding that if it is approved, the employee will be leaving.听 Staff should therefore consider their application carefully and not apply speculatively.听 Applications will be kept strictly confidential and on a 鈥渨ithout prejudice鈥� basis.
10. Employees who meet the Eligibility to Apply requirements set out above will have a right to apply under the Scheme, but not a right to have their application approved.
11. Employees who are seriously considering retirement or accessing their pension benefits early (subject to age eligibility)听 should request an illustration of what their pension would be from听pensions@ucl.ac.uk听 (Subject: Voluntary Resignation Scheme quote) as soon as possible.听 If the applicant is below the normal retirement age, the pension will be reduced.听听See Pension FAQs.听
12. Applications will be considered together and听recommendations made听after the closing date of Sunday 15th January 2023.听The Dean & Director of Operations, Vice Provost or Vice President (as appropriate) will make the final decision drawing on recommendations provided by line management, Heads of Department and other factors such as financial projections and strategic direction.听The final decision will be made in February 2023.
13. Staff whose application is agreed will be informed in February 2023 and will start working their contractual notice period. Some staff听may be required to work a longer notice period if there are operational reasons to do so, but usually with a leaving date of no later than 31听July 2023.
14. Any accrued annual leave must be taken prior to departure and will not be paid. Any annual leave taken in excess of accrued entitlement will be deducted from the final pay.
15. Whilst the individual circumstances of each case will be considered, under current HMRC rules payments under the Scheme can be paid without deduction of tax and national insurance up to a maximum of 拢30,000, provided the employee works their notice period.
16. Payments in lieu of notice period will not normally be made.听 An earlier departure may be requested but, if agreed, no payment will be made for or in lieu of any unworked notice period.听If an earlier departure is agreed, under current HMRC rules, there will be an impact on the tax treatment of part or all of the payment otherwise due under the Scheme (please see paragraph above and听FAQ).
17. The final date of employment will be recorded in the Settlement Agreement, which must be signed by both parties.听 The reason for leaving will be 鈥渞esignation鈥�.
18. Anyone who leaves 果冻影院 under the Scheme will not be eligible to work for 果冻影院 for two years from their final date of employment. This includes returning as an employee, contractor, agency worker or on a casual basis.听 In very exceptional circumstances, it may be agreed as part of the settlement agreement, that following their termination of employment, they are engaged to complete a specific piece of work which will still be outstanding at the point of leaving.听
19. Research and academic staff who leave 果冻影院 may be nominated for an honorary title through the Honorary Staff Appointments Procedure. Professors who resign under the Scheme and choose to retire may be eligible for the title of Emeritus Professor.
20. The Scheme is not a redundancy or voluntary redundancy scheme. However, a post might become redundant as a consequence of the Scheme if the budget holder does not backfill.听 Staff who apply for the Scheme accept that this will not be a redundancy situation; they will not be entitled to a redundancy payment; they will not be entitled to an unreduced pension if they choose to draw their pension before the normal pension retirement age.
21. 听See Appendix 1 for FAQs.
22. See Appendix 2 for Pension FAQs.

The payment

23. Payments made under the Scheme will be calculated as follows:

24. The calculation will be based on age, salary (pro-rated for part-timers) and number of completed years鈥� service as on the last day of service.听The payment will be capped at 拢95,000.
25. For examples of payments according to age, length of service and grade see Appendix 3.
26. Payments will be paid from a central financial budget.

Application and approval process

27. The employee must submit the completed application form to their line manager and the scheme administrator.
    
    
28. The scheme administrator will acknowledge receipt.
29. Following closure of the Scheme, the line manager will consider the application alongside others received and make a recommendation for approval or rejection.
30. The Head of Department / Director of their department (鈥渢he Head鈥�) will review all applications in their area and produce a summary report outlining their recommendations.听This will include involvement of the Finance Business Partner and Human Resources Business Partner.
31. The appropriate Dean and Director of Operations, or the appropriate Vice Provost, Pro Provost or Vice President will consider the Head鈥檚 recommendations and summary report and will make a final decision on the approval or rejection of the applications, seeking input from others as they feel appropriate.听 This will include involvement of the Finance Business Partner and Human Resources Business Partner.
32. 听All considerations will include:

• eligibility for the Scheme.

• how the resulting vacancy could be managed.

• how the work and team could be restructured or whether activities could cease.

• ensuring that the loss of the post does not lead to a significant loss of funding or income stream, or adversely affect an externally funded project.

• the application of good organisational design principles and ensuring that the work unit is still able to meet its objectives.

• whether some or all of the savings should be reinvested rather than put towards the savings target

33. All decisions will be finalised by Friday 3 February 2023 and the Scheme Administrator will notify the employee听of the outcome听during the following week.
34. If approved the employee will be notified of the payment due and final date of employment, following which they will be required to confirm their resignation under the Scheme. Contractual notice period will commence on receipt of the resignation, and the Settlement Agreement will be issued. 听
35. The employee will seek legal advice (果冻影院 will contribute up to 拢500 incl. vat) and sign the settlement agreement.听 The employee will work their notice, leave on the agreed date and the settlement amount will be paid with their final salary.
36. Where the application is rejected, the letter will contain the reason for rejection.听There will be no right of appeal

Disclaimer

38. This Scheme is non-contractual. It is entirely voluntary and is operated wholly at the discretion of 果冻影院 and may (notwithstanding anything else stated in this document) be extended, amended or withdrawn at any point without notice.听 Any settlement agreements already signed by an employee and 果冻影院 will be contractually binding and will be honoured.

Appendix 1: Voluntary Resignation Scheme FAQs听

1. The resignation amount is based on 鈥淏asic听Weekly Salary鈥�, what does this mean?
   This is based on your basic 听gross salary听(the pro-rated salary for part-timers)听of your substantive post on the last day of service, including London Allowance.听 听Other additional allowances will not be eligible as part of the payment calculation.听 Your weekly pay is your total salary divided by 52.142.
   
   For staff on Parental Leave or Sick Leave, basic pay will be based on the normal basic weekly salary they would receive if not absent from work.
2. How do you calculate completed years (continuous service)?

   Completed years are based on your continuous service date, which is calculated from the date听your current听employment听with 果冻影院听commenced听(or, the date your employment started with your听previous employer(s) for those who TUPE transferred to 果冻影院). Any employment with 果冻影院 prior to听your听continuous service date, e.g. if听you worked听for 果冻影院,听left听to work for another employer and then听returned, will听be disregarded when calculating continuous service.听Your full or part-time status or any statutory leave e.g. paid/unpaid parental leave, during the course of your employment will have no impact on your continuous service.

   Each year is calculated as 12 months from the continuous service start date, e.g. if someone starts work on 1st Feb, their first year is complete on 31st Jan e.g. 1/2/2019 - 31/01/2022 = 3 years' service.

3. Can I change my mind once I have submitted my application?
   It is expected that you will only apply if you intend to leave 果冻影院 if it is accepted. This is because senior managers will be considering the structure of the team based on your application.听
4. What is a settlement agreement?
   A Settlement Agreement is a legally binding agreement which records the terms on which the termination of employment by mutual agreement takes place. Both you and 果冻影院 sign and agree to the terms of the agreement.听
5. Why do I need to consult a lawyer on the agreement?
   For the settlement agreement to be legally binding and to ensure that you are able to take independent legal advice on the contents of the document, you must ask a lawyer to review the settlement agreement. 果冻影院 will contribute to the costs of this up to 拢500 incl. VAT.
6. What if I resign after applying for the Scheme but before my application is approved and a settlement agreement entered to?
   Your application will no longer be considered, and you will not be eligible for any payment under the Scheme.
7. What are the implications if it is agreed that part or all of my notice period is waived?
   Under current HMRC rules, the tax treatment of your payment will be affected. Under these rules, the amount of the payment equivalent to the amount you would have otherwise been paid for unworked notice would be reclassified as pay equivalent to notice period () and would therefore be subject to tax and NICs.
8. I have a number of posts at 果冻影院. How will this affect my application?听
   You may apply under the Scheme against any post you hold, providing you meet the eligibility criteria. Your payment will be calculated pro-rata based on the salary of the post you are applying to resign from. You will not need to leave 果冻影院鈥檚 employment entirely if you do not apply to resign from all the posts you hold.
9. If I am on an internal secondment can I apply under the Scheme?
   Yes, you can. You will need to discuss your application with both your line manager for your substantive role and for your secondment role, although your line manager for your substantive role will be responsible for making the recommendation for approval or rejection. If your application is approved, your payment will be calculated based on the salary of your substantive role.
10. I am on maternity/adoption leave. 听If my application is approved what will happen to my maternity/adoption pay? 听
    You will leave at the end of your contractual notice period. 听If you are still receiving occupational maternity/adoption pay on your last day of service this will cease. 听If you are still eligible for statutory maternity/adoption pay on your last day of service this will continue to be paid until you are no longer eligible. 听
11. Can I name my line manager as a referee if I apply for other jobs?
    Yes. Alternatively, standard references are provided by HR Services.

12. What is the rationale for calculating payments under the Scheme by reference to age and length of service?
    Whilst not a redundancy or voluntary redundancy scheme, payments under the Scheme are intended to be broadly similar to those that would be payable in a redundancy situation.听 Under the statutory redundancy scheme and 果冻影院鈥檚 redundancy pay, years of service completed age 41 or above are subject to a 1.5 multiplier.听 In addition, 果冻影院鈥檚 redundancy pay entitlement provides that the total payment is doubled for those employees who have 10+ years service.听 The same principles are being applied here, except all payments under the Scheme are subject to a 拢95,000 cap.听 Unlike statutory and 果冻影院 redundancy pay, however, there is no minimum length of service required to qualify for a payment under the Scheme and there is a minimum payment of 4 weeks鈥� pay in all cases. 听

13. Can employees continue to听apply for听flexible retirement?

    Flexible Retirement is an option available to staff in the USS pension scheme aged 55 and over. This option allows staff to reduce their contracted hours and draw down part of their pension, and remains available for staff to request under the Work-Life Balance Policy. Staff are not permitted to submit a voluntary resignation scheme application with respect to the听associated听reduction in hours. Further information about this is available online and from the 果冻影院 Pensions Team.听

Appendix 2: Pension FAQs听

1. What are my options, regarding my pension?
   These will depend on your age and other factors, such as how long you have contributed to the scheme. 听The following pages for the schemes provide relevant information:
   
   USS: 听
   Saul: 听听
   NHSPS:听 and 听
2. Can I access my reduced pension if I resign?
   
   USS: 听if you are aged 55 or over, yes you can.听
   SAUL: 听if you are aged 55 or over, yes you can. If you are aged 50 or over AND you joined before 6 April 2006, yes you can.
   NHSPS:听if you are aged 55 or over, yes you can. If you are aged 50 or over AND you joined before 6 April 2006, yes you can.
   听

   Pension schemes will reduce pension benefits for each year that you retire early on a voluntary basis.听

   If you are seriously considering retirement or accessing your pension benefits early please request a quote from听听pensions@ucl.ac.uk听(Subject: Voluntary Resignation Scheme quote) as soon as possible. A quote may take between 4-8 weeks. It is strongly recommended that you take independent financial advice before accessing a reduced pension.听

3. Can part or all of my resignation payment be paid directly into my pension scheme by 果冻影院?
   
   USS:听 听Yes
   SAUL:听 听Yes
   NHSPS:听听No
4. If yes, how much can I pay into my pension scheme and are there any tax implications?
   Consideration should be given to your Annual Allowance position and the potential for a tax charge if you exceed the allowance of 拢40,000. It is strongly recommended that you take independent financial advice before you do this.
5. If I draw my occupational pension upon leaving 果冻影院, can I take up employment elsewhere?
   
   USS:听 听 Yes听
   SAUL:听 听 Yes
   NHSPS:听 听 Yes
6. If I draw my occupational pension upon leaving 果冻影院 and later take up employment with an employer who offers the same pension scheme, can I re-join my occupational pension scheme?
   
   USS:听听 听Yes, provided the employment was not pre-arranged before retirement from USS.听
   SAUL:听听 听Yes, provided you are under the age of 66. 听
   NHSPS:听听 听Yes, you can re-join up to age 75.
7. If I defer drawing my occupational pension upon leaving 果冻影院 and take up employment with an employer who offers the same pension scheme can I continue to contribute to my occupational pension scheme?
   
   USS:听听 听Yes
   SAUL:听听 听Yes
   NHSPS:听听 听Yes
8. If I choose to draw my pension, can I receive a job offer elsewhere during my notice period and before I leave 果冻影院?听
   
   USS:听听 听Yes, however you will not be able to receive retirement benefits if the new employer offers USS
   SAUL:听听 听Yes
   NHSPS:听听 听Yes
9. If I leave 果冻影院 at age 66 or above, do I have to draw my pension?
   Yes, you are required to access the defined benefit element of your pension if you leave employment following your normal pension date. 听 You can defer drawing your defined contributions until age 75. 听It is recommended that you consult with an Independent Financial Advisor to assess if it is beneficial to delay payment of your defined contribution benefit. 听 听听

For further information on retiring

For any further pension questions please contact: 听pensions@ucl.ac.uk听(Subject: Voluntary Resignation Scheme question)

Appendix 3 Examples of estimated Voluntary Resignation payments based on full-time salary听(you would need to pro-rate the salary if you are part-time).

听

*Estimated payments may vary depending on exact date of birth and number of years' completed service on the date the employee leaves.

HR Employment Policy Team
October 2022