Voluntary Retirement Scheme definition

Voluntary Retirement Scheme or “VRS” means payments under Part B.1 of the Project made pursuant to a Voluntary Retirement Scheme approved by Madhya Pradesh, and in accordance with guidelines and procedures set forth in a VRS action plan adopted by Madhya Pradesh and acceptable to the Bank.
Voluntary Retirement Scheme means the Scheme dated January 23, 1996 of Andhra Pradesh and found satisfactory by the Association and the Bank, setting out, inter alia, the criteria, principles and procedures for the payment of compensation to surplus employees in connection with the implementation of the First Phase Restructuring Program for Public Enterprises and Cooperative Enterprises;
Voluntary Retirement Scheme means the Voluntary Retirement Scheme referred to in the Memorandum of Understanding signed on 27 March 2012 between the Ministry, the Authority and the trade unions relating to the transfer or otherwise of the staff of the 6 service providing institutions to the Authority.

Examples of Voluntary Retirement Scheme in a sentence

  • Any significant development in Human Resources/ Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme etc.

  • Counselling, training and rehabilitation of employees in Central Public Sector Undertakings under Voluntary Retirement Scheme.

  • Any significant development in Human Resources /Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme etc.

  • Any significant development in Human Resources/Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme etc.

  • The printing operations of the Company have been discontinued post the majority of the employees having availed the benefits of the Voluntary Retirement Scheme.

  • Any significant development in Human Resources/ Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme, etc.

  • Any significant development in Human Resources / Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme, etc.

  • Any significant development in Human Resources / Industrial Relations front like signing of wage agreement, implementation of Voluntary Retirement Scheme etc.

  • Any significant development in Human Resources / Industrial Relations front like implementation of Voluntary Retirement Scheme etc.

  • Unit 4Performance Appraisal(a) Concept and Objectives of Performance Appraisal (b) Process of Performance Appraisal (c) Criteria for Performance Appraisal (d) Benefits of Performance Appraisal (e) Limitation and Constraints (f) 360 Degree Performance Appraisal (g) Promotion-Degree, Transfer Air Separation: Promotion, Purpose, Principles and Types; Transfer: Reasons, Principles and Types; Separation: Lay-Off, Resignation, Dismissal, Retrenchment, Voluntary, Retirement Scheme.


More Definitions of Voluntary Retirement Scheme

Voluntary Retirement Scheme or “VRS” means the Voluntary Retirement Scheme referred to in section 23 of the Sugar Industry Efficiency Act

Related to Voluntary Retirement Scheme

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Normal Retirement Age means the Executive's 65th birthday.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Disability retirement for plan 1 members, means the period

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Retirement Age means the earlier to occur of:

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Early Retirement means retirement, with consent of the Committee at the time of retirement, from active employment with the Company and any Subsidiary or Parent Corporation of the Company.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Public employees retirement system means the retirement plan and program

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.