Is employer consent now required to leave on VERA terms?
Yes, you will need to have employer consent to enjoy any special early retirement terms (VERA transition terms, the new standard early retirement terms or E&P’s special offshore terms). These special are more generous than the terms that apply to deferred pensioners taking their deferred pensions early. Employer consent is required to ensure a smooth and effective handover of key aspects of your work. However, if you joined before 1 December 2006, you may retire between 60 and 65, on an unreduced pension without the need for employer consent.
Related Questions
- Even though an employer is not required to pay for leave under the Act, what about continuation of health care benefits, vacation accrual time, holiday pay, pension accrual time and other benefits?
- If an employer fails to tell an employee that leave has been designated as FMLA leave, can the employer count the leave against the employees FMLA leave entitlement?
- May an employer request that an employee provide a doctors excuse or other explanation when the employee has used sick leave?
