The University’s Voluntary Early Retirement Scheme (VERS) for academic staff have re-opened for expressions of interest from Monday 2 September – Sunday 29 September.

Managed by the Australian Tax Office, VERS allows eligible continuing academic staff aged 50-65 to retire early from their employment with a financial package that is taxed concessionally.

The Australian Tax Office approval for the scheme will end on 1 November, so this will be the final opportunity for eligible staff to express interest in one of the limited financial packages still available.

Payment for eligible staff

Staff who are offered a package will receive a one-off lump sum payment calculated as follows:

• Two weeks’ base salary for each completed year of continuous service;
• With a minimum payment of 26 weeks’ base salary or $50,000 (whichever is greater);
• And up to a maximum of 52 weeks’ base salary.

In addition to the lump sum payment, staff will also receive any accrued annual and long service leave to which they would otherwise be entitled.

Check your eligibility now

Find our more and check your eligibility on the VERS staff portal page.