Under the program, an eligible employee who is five or more years from retirement--excluding faculty members who have a separate program--could receive one month's salary for each year of continuous employment at UBC to a maximum of 12 months, paid as a salary continuance with full benefit coverage. The salary would be pro-rated for employees with less than 20 years service. Those 60 to 65 and less than five years from retirement may also be eligible and would receive a salary continuance based on a sliding scale dependent on time to retirement.
Marcelle Sprecher, director of Compensation in Human Resources, said 1,097 UBC employees are potentially eligible.
In 1993, 30 staff members from all employee groups took advantage of a similar program. The latest program has a greater eligibility range but still requires mutual consent from employees and their department heads.
The program was created in response to indications from both employees and department heads that there is sufficient interest and need to make it beneficial to both groups. The program can make it easier for departments to meet budget requirements, plan for future needs and restructure, Sprecher said.
"On the other hand, departments may not approve an application if it entails costs because they have to replace the individual at exactly the same salary," Sprecher said. "Or they may wish very much that an individual stay."
Employees who do qualify for the program may also be able to start receiving their pensions as early as age 55.
Although department managers or heads must receive requests in writing by no later than Dec. 31, 1996, the program start can be scheduled for any time between Oct. 1, 1996 and March 31, 1998.
For further information, please call Linda Gauthier at 822-8119, fax 822-9471 or e-mail linda.gauthier@ubc.ca.