(1) Where an employer alleges that an employee is performing unsatisfactorily or is incompetent and such unsatisfactory performance or incompetence is due to the reasonable effect of the natural aging process, an employer shall not dismiss that employee for unsatisfactory performance in accordance with section 136(2), but shall offer to that employee the option of early retirement or shall redeploy the employee within the establishment or in any other establishment under the control of the employer, provided that the employee shall not lose any benefits as a result of the redeployment.
(2) Where an employee is offered early retirement, he or she shall be entitled to a payment of termination benefits calculated in accordance with this Part up to the day of termination for early retirement.