Equalisation allowance Clause Samples
An equalisation allowance clause is designed to ensure that parties, often in investment or partnership arrangements, receive fair and proportionate allocations of profits, losses, or benefits, regardless of when they join or contribute to the arrangement. In practice, this clause adjusts distributions so that new participants are neither advantaged nor disadvantaged compared to existing ones, often by recalculating entitlements or making compensatory payments. Its core function is to maintain equity among participants and prevent imbalances that could arise from differing entry times or contribution amounts.
POPULAR SAMPLE Copied 6 times
Equalisation allowance. Where, as part of an organisational change, an employee is offered and accepts a role where the rate of pay for the new position is less than that which applied in their former position, they will be paid an equalisation allowance, to preserve their former rate of pay for a period of 12 months. This allowance is abated by any pay increases during the period the allowance is being paid.
Equalisation allowance. 82.1 If you are reassigned to a new position at a lower salary, an equalisation allowance will be paid to preserve your salary at the rate paid in the old job at the time of reassignment. You can elect to receive this allowance as either: › lump sum equivalent to the difference between your present salary and the new salary for two years, or › an allowance equivalent to the difference between your present salary and your new salary for a two year period (this is abated by any subsequent salary increases).
82.2 In the event that you are reassigned, or decline to be reassigned, to an alternative position, you shall have no entitlement to redundancy compensation.
82.3 If you are reassigned to a position with a lower salary, MBIE will continue seeking alternative options for you.
82.4 Where you are reassigned to a lower salaried position this arrangement shall be 37 subject to yearly review where alternative options are assessed, taking into account performance and development needs. (note: A 'more suitable alternative option' is one in which the employee is not disadvantaged in terms of current terms and conditions of employment and should take into consideration the employee's skills, abilities and potential to be retrained).
82.5 If you choose not to accept a suitable reassignment, an option is leave without pay.
82.6 In the event that your position becomes surplus to MBIE’s requirements and no alternative position is available, you shall be declared redundant.
Equalisation allowance. 10.6.1 Where employees accept reassignment to a new position at a lower salary, an equalisation allowance shall be paid to preserve the salary of the employee at the rate paid in the old job at the time of reassignment. The employee may choose either of the following options:
a. A lump sum to make up for the loss of basic pay for the next two years (this is not abated by any subsequent salary increases); or
b. An ongoing allowance equivalent to the difference between the present salary and the new salary payable for a maximum of three years. This is abated by any subsequent salary increases.
Equalisation allowance. (Short term payment)
Equalisation allowance. Te pūtea mana taurite
11.7.1 Where employees accept reassignment to a new position at a lower salary, an equalisation allowance shall be paid to preserve the salary of the employee at the rate paid in the old job at the time of reassignment. The employee may choose either of the following options:
a. A lump sum to make up for the loss of basic pay for the next two years (this is not abated by any subsequent salary increases); or
b. An ongoing allowance equivalent to the difference between the present salary and the new salary payable for a maximum of three years. This is abated by any subsequent salary increases.
Equalisation allowance. If an employee is offered and accepts a role with a lower salary under clauses 10.6.1 or
Equalisation allowance. Where a suitable reassignment is offered at a lower salary, an equalisation allowance will be paid to preserve the salary of the member at the rate paid in the old job at the time of reassignment. This allowance will be paid with the member’s usual fortnightly salary and is abated by any subsequent salary increases.
Equalisation allowance. If an affected employee is reassigned to a new position at a lower salary, an equalisation allowance will be paid to preserve their salary at the rate paid in their old job at the time of reassignment. The employee can elect to receive this allowance as either: • a lump sum equivalent to the difference between their present salary and the new salary for two years, or • an allowance equivalent to the difference between their present salary and the new salary for a two-year period (this is abated by any subsequent salary increases). Where the employee is within five years of eligibility for Government Superannuation (GSF) and the employee is a member of the scheme, the equalisation allowance will count towards the calculation of superannuation.