Can long service leave be cashed out in SA?

Payment in lieu of leave. On completion of ten years’ continuous service, a worker and their employer can agree to a cash payment in lieu of long service leave for either the whole, or part of, an accrued long service leave entitlement. This is often referred to as cashing out long service leave.

How is long service leave calculated South Australia?

Long service leave entitlements are calculated as the monetary equivalent of 1.3 weeks leave in respect of each completed year of service at the worker’s ordinary weekly rate of pay immediately before the worker’s service was terminated.

How much long service leave do you get in SA?

thirteen weeks
Under the Long Service Leave Act 1987 (SA) an employee is entitled, after ten years continuous service, to long service leave on full pay amounting to thirteen weeks [s 5]. A further 1.3 weeks is granted for each completed year after 10 years service.

Can I take long service leave after 7 years in SA?

Pro-rata entitlement A pro-rata long service leave entitlement becomes available after 7 years of continuous service.

How is LSL payout calculated?

leave in respect of a period of service, the employee ceases to be employed full time and is employed part time or as a casual employee, the ordinary remuneration for long service leave shall be calculated by dividing by 5 the total amount of salary or wages paid to the employee in the period of five years ending on …

How is long service pay calculated?

A long service payment should be paid to an employee within seven days after the date of termination of the employment contract. Service for an incomplete year should be calculated on a pro rata basis. * The sum should not exceed 2/3 of $22,500.

How does long service leave affect pension?

As you are retiring and not being retrenched, any long service leave you are due will not impact when you can claim for the Age Pension – that is, you will not have to wait until this is spent before you can claim.

Does lump sum long service leave affect age pension?

As long-service leave (LSL) is paid leave, so benefits are not affected and contributions remain payable. Long service leave can be taken at double pay, single pay or half pay. Whichever way it is taken it is treated for superannuation purposes as if it had been taken at the single pay rate.