International Financial Services Centres Authority (Employees' Service) Regulations, 2020 Chapter II APPOINTMENTS, PROBATION AND TERMINATION OF SERVICE
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Superannuation and voluntary retirement govern employee exit through prescribed age, service thresholds, notice, leave encashment, and compensation. Superannuation requires retirement at 60 years of age, while compulsory retirement may occur after 55 years of age or 30 years of total service on written ... Summary
International Financial Services Centres Authority (Employees' Service) Regulations, 2020
Superannuation and voluntary retirement govern employee exit through prescribed age, service thresholds, notice, leave encashment, and compensation.
Superannuation requires retirement at 60 years of age, while compulsory retirement may occur after 55 years of age or 30 years of total service on written notice. Voluntary retirement is available after 50 years of age or 20 years of service, subject to appointment terms and notice requirements. Retiring employees may avail or encash unavailed ordinary leave up to the prescribed limit, and compensation may be considered in specified compulsory or voluntary retirement cases. Undertakings or bonds may secure liquidated damages for training-related or service-completion obligations.
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