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Retirement Policy, Procedure and Guidance

1. Introduction

1.1 This policy sets out the DASIAs position on retirement. It has been produced,
incorporating the Department Order No. 150-16 of the Department of Labor and
Employment. The policy forms part of the DASIAs over-arching strategy to
promote equal opportunities and avoid unlawful discrimination in its employment

1.2 The DASIA will ensure that decisions made as part of the retirement policy are
made objectively and are free from unlawful discrimination regardless of sex,
race, color, religion or belief, ethnic origin, age disability, gender reassignment,
marriage and civil partnership, sexual orientation or pregnancy and maternity,
political affiliation, staff organization/trade union membership in accordance with
the DASIAs Equal Opportunities and Diversity policy.

2. Scope

2.1 This policy applies to all employees of DASIA.

2.2 The arrangements covered by this policy are:

- retirement
- trust fund account

3. Aims

3.1 This policy is intended to demonstrate the DASIAs commitment to support its
employees even after their retirement stage and promoting age diversity in its
workforce. It is also intended as a guide to help its employees to understand the
retirement process and arrangements may be consider to that they can:

- plan ahead
- support preparation for the transition of employees from work to retirement

4. Duties Roles and Responsibilities

4.1 The Executive Team is accountable for funding the Trust Fund for ensuring
compliance of the Department Order No. 150-16 together with this policy.

4.2 Department Managers are responsible to the Executive Team for ensuring policy

4.3 Branch Managers are responsible for ensuring policy implementation and
compliance in there are(s).

4.4 DASIA employees, personnel and security guards are responsible for complying
the policy.

5. General Principles

5.1 DASIA encourages employees to prepare for their retirement both financially and
personally and wishes to provide support to staff considering retirement. DASIA
shall create a committee task to handle any and all retirement matters and
5.2 Early communication between an employee and their immediate superior is an
important prerequisite for effective retirement planning. DASIAs annual appraisal
provides the opportunity to:

- discuss strengths, weaknesses, opportunities (SWOT analysis)

- explore formally the future intentions of staff regarding mid-term career plans
including retirement
- discuss options for flexible retirement and the implications for the
- arrange appropriate help and support e.g. help with financial planning, advice
about pension
- plan accordingly for future recruitment needs
- ensure appropriate notice is received to process pension (if payable) on time

5.4 For employees who are retiring, the manager must obtain confirmation in writing
from the employee and notify the Human Resource Department immediately for
proper documentation.

5.5 The Human Resource Department will arrange completion of all the necessary
paperwork for terminating the employees employment and, in conjunction with
other concern department including the Trust Company, will arrange completion
of the necessary forms for release of the bond deposit and the retirement pay.

5.6 All retiring employees shall be issued a confidential exit clearance to be signed
by all department heads or managers

5.7 The HR Department will coordinate the process for all request to retire and
return. It is a pre-requirement of all requests that the employee has completed a
satisfactory appraisal, and has been the subject of formal action under any of the
following: Capability Policy/Procedure; Employee Wellbeing Policy; or
Disciplinary Policy.

5.8 Where it is confirmed that an employee will retire and return, the HR Department
will notify the manager. The Human Resources Administrator will confirm any
contractual change(s) in writing to the employee (copy to the manager) and will
notify the concern department, including the executive team if needed. A return to
work will be subjected to DASIAs hiring protocol and evaluation processes,
including the standards set for by the Trust Company where the retirement funds
have been entrusted.

5.9 All returners are subject to employment under DASIAs terms and conditions,
policies and procedures and rules and regulations, including personnel appraisal;
capability; professional registration (when required); Revalidation (medical and/or
Dental Staffs); and prevention of illegal working.