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  • FIRST POST
    • MSE Martin
    • By MSE Martin 21st Sep 06, 12:40 PM
    • 8,104Posts
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    MSE Martin
    The Great 'What to do in the event of redundancy' Hunt
    • #1
    • 21st Sep 06, 12:40 PM
    The Great 'What to do in the event of redundancy' Hunt 21st Sep 06 at 12:40 PM
    Update:

    We now have a fully researched Redundancy Help Guide

    Back to the original Great Hunt:



    Have you ever been made redundant?

    The Great 'What to do in the event of redundancy' Hunt

    This is a special plea. Recently in the 'suggestions for major articles' discussion someone asked for one on what to do in the event of redundancy.

    I think it's a great idea and plan to do it. However beforehand I wanted to get personal experiences and tips from people who have been through it - to help those who have it to come. Please help.

    Click reply to leave your suggestions - on as wide an amount of info as you like.

    Martin

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    Last edited by MSE Andrea; 25-03-2014 at 1:51 PM.
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

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Page 9
  • superwoman4
    My hubby is most likely going to be made redundant shortly. He will get a small pension and a lump sum but this may take a few weeks to come through, but will he be able to sign on while he looks for another job. He will be 60 in a few months time and I work 30 hours a week term time only.

    Also if he takes voluntary redundancy will be able to sign on the same as if they decided to make him redundant anyway?
    Originally posted by babyblooz
    Yes, he will still be redundant, doesn't matter if it's voluntary or compulsory and he'll be entitled to CB JSA for 26 weeks. After the 26 weeks he won't be entitled to IB JSA because you are working.
    • babyblooz
    • By babyblooz 22nd Jul 13, 5:40 PM
    • 1,061 Posts
    • 2,328 Thanks
    babyblooz
    Thank you for that Superwoman4! Will the fact that he is going to get a small pension affect him getting benefit. I have heard people say it takes weeks to get the pension sorted.
    please play nicely children !
  • superwoman4
    Thank you for that Superwoman4! Will the fact that he is going to get a small pension affect him getting benefit. I have heard people say it takes weeks to get the pension sorted.
    Originally posted by babyblooz
    I believe they disregard the first £50 a week of pension income for CB JSA and savings are fully disregarded.
  • breezyman
    Hi can anyone try and clarify something for me. I was issued my redundancy notice the other week, just two days after i was told in a meeting that this may happen - was this meeting which lasted about 10 minutes what you would call a consultation period?

    I was called to another meeting two days later where I was told they are closing my department down, and that there is no suitable job at there alternative site. Was given notice that my employment would end 31st Oct.

    Today I was verbally told another job has come up - and that if i don't accept it i will lose my redundancy money as there withdrawing the offer. Can they force me to take a job that sounds a bit dodgy.

    I work for a motor car main franchise dealer - the franchise we represent has cancelled there agreement with the company i work for, as we do not meet there dealer standards. What the company want me to do in the new role they have created is, they want me to be a middle man and supply parts to my existing customers but order them in from another main dealers, nothing will come direct from the manufacturer to me then to my customer.

    Can they force me to take a job that does not fit along the lines with my original position, as i represented a major franchise and was subsequently trained and backed up by. This new position will just make me be a sales/counter hand at best.

    Any pointers appreciated as i feel the new job has only been created for the short term only, and that there creating it to stop paying me any redundancy.
  • hammond_manc
    I am being offered an enhanced redundancy package (not voluntary), and would love to know if anyone can comment on whether 2.75 weeks of full pay per year of service (not just 1 week of SRP per year of service) is a good deal in this day and age?

    Have also read some comments around car insurance. Sounds like I need to inform them, but at what point do I need to do this - presumably at the point when redundancy kicks in? But what if I am also partly self-employed ("trading as Joe Bloggs") i.e. have earnings outside of the day-job, even though they are only around £10k? Am I officially still considered as "employed"? (I fill in yearly tax returns and have previously declared both incomes).

    No doubt it would be pointless to go down the JSA route as I've always been sensible and put money aside (therefore have savings) and would not be entitled to anything. Maybe I should have bought a new 42" TV every year, smoked 50 a day, gone on luxury holidays I couldn't afford, drank like a fish and bought the latest phone model whenever it came out! Ugh. But the entitledto.co.uk link somebody posted way back was very useful, thank-you.

    I'm all ears
    • sammyjammy
    • By sammyjammy 5th Oct 13, 8:11 PM
    • 3,997 Posts
    • 4,340 Thanks
    sammyjammy
    I am being offered an enhanced redundancy package (not voluntary), and would love to know if anyone can comment on whether 2.75 weeks of full pay per year of service (not just 1 week of SRP per year of service) is a good deal in this day and age?

    Have also read some comments around car insurance. Sounds like I need to inform them, but at what point do I need to do this - presumably at the point when redundancy kicks in? But what if I am also partly self-employed ("trading as Joe Bloggs") i.e. have earnings outside of the day-job, even though they are only around £10k? Am I officially still considered as "employed"? (I fill in yearly tax returns and have previously declared both incomes).

    No doubt it would be pointless to go down the JSA route as I've always been sensible and put money aside (therefore have savings) and would not be entitled to anything. Maybe I should have bought a new 42" TV every year, smoked 50 a day, gone on luxury holidays I couldn't afford, drank like a fish and bought the latest phone model whenever it came out! Ugh. But the entitledto.co.uk link somebody posted way back was very useful, thank-you.

    I'm all ears
    Originally posted by hammond_manc
    2.75 weeks for each year of service is good, I have just put my name forward for Redundancy in Civil Service and theirs is one month for each year up to a max of 21.

    Can't help on the car insurance I'm afraid but you will be entitled to six months of JSA based on your NI conts, this is £71.70 a week, assuming you'll be looking for work of course.

    best of luck

    Sam
    "You've been reading SOS when it's just your clock reading 5:05 "
    • mumf
    • By mumf 7th Oct 13, 7:51 AM
    • 99 Posts
    • 174 Thanks
    mumf
    All of the posts here are good, and many reflect my own experiences of earlier this year. I worked for the company for 17 years. Small family firm , employees x 4. The boss wanted to retire, and we knew it was coming this year, hopefully TUPE from the sale of business. The sale fell through again. We were made redundant with ten minutes notice-he went insolvent! I was owed £15,000.
    So, four months along the line, what advice can I offer?

    Because I knew the job was going to finish (at some point) a good while before, my wife and I used savings to clear our mortgage. As Martin says, mortgage interest was more than savings interest-no brainer!
    I made sure that I saved enough to cover ABSOLUTE basic costs for three months.
    I started networking, and had loose promises of "a couple of days work" here and there -it was a start.
    I signed on- I had paid my N I .
    I stocked the pantry with lots of tins, jars and packets while the good wages were coming in.
    I stocked the coal bunker and log pile well ahead of time.
    I organised my extensive veg garden into what I called my 'Redundancy Garden', to carry us over this Winter.
    We started to use less of everything, power and resources. It made a difference!
    We started to waste less food, and used the local market to shop.
    Got my CV sorted, and registered with as many agencies as possible.
    I treated every morning, 8am til noon as work time, looking for work by using the web and phoning contacts.
    I walked and cycled everywhere to keep physically fit.
    DIY jobs got done.

    Then after two weeks, I got 3 job offers in 24 hours!
    I now work better hours, no management responsibilities, a total change. It is great, even though I earn less. I still have the payoff in the bank, and the changes we made to the way we live carry on. Positive change.

    I hope my meandering thoughts help someone out there.
    • iabw12
    • By iabw12 4th Apr 14, 12:02 PM
    • 89 Posts
    • 22 Thanks
    iabw12
    I've just been issued with a notice of redundancy - it's a heck of a shock. I've been given 12 weeks notice (in line with legal requirements). My query is that I have a long history of clinical depression and I take my medication each day. I don't know if I can face the next 12 weeks at work, I want to run and hide. What would be the ramifications if my GP were to advise and support me to take as much time off as needed during the coming 12 weeks? Anyone know?
  • Boxer
    Voluntary redundancy
    Today I received a formal of Voluntary Redundancy.



    I have an outstanding balance of £26328.08. I am tempted to pay of my mortgage and using the early repayment mortgage calculator I find financially it would be to my benefit.



    My mortgage provider has told me that an early repayment fee of £175.38 would apply.
    Should I run my figures through the calculator again?

    Looking forward to your input.

    With kind regards

    Boxer
  • james.wardle
    What payments are taxable on redundacy?
    Hello Guys

    I have just been made redundant after 9 months with a company. can anyone give me advice on what i will and won't pay tax on.

    1, I get a months pay in lieu of notice, i,e i have been told to finish work today but i get paid until the end of february.
    I think i pay tax and NI on this?

    2, My company didn't manage to set up my pension or health insurance in the time i was with them due to admin problems. so as a gesture of goodwill they are going to pay me the few thousand pounds, they would have spent on this.
    I dont think i should pay tax on this but i'm not sure?

    any advice would be appreciated for me to help budgeting

    thanks

    james
  • bconnelly
    Experienceeeeee
    Now i'm not suggesting you wrote this intending to be ageist but you none the less are. As someone who's bang on 55 and just been made redundant this morning, are you seriously telling me that I should walk away from interviews if the interviewer is younger? I have worked my entire life. That experience will out perform any degree, diploma or other bit of paper you might have. 55 is a long way from being over-the-hill. Always remember - I've been your age, you may never reach mine!
    • Pipes123
    • By Pipes123 13th Nov 15, 8:04 PM
    • 1 Posts
    • 0 Thanks
    Pipes123
    excellent post.... made a lot of sense.. some good tips... and some bits made me laugh... thank you
    • DigForVictory
    • By DigForVictory 13th Nov 15, 8:59 PM
    • 5,948 Posts
    • 14,936 Thanks
    DigForVictory
    If you can see it before it hits, load your larder, pantry, & freezer & repurpose some of your garden.
    Push comes to shove I manage OK without a computer or broadband (love that library!) but still need a brew to start the day.
    • LindieR
    • By LindieR 10th Sep 16, 4:02 PM
    • 11 Posts
    • 3 Thanks
    LindieR
    What do you do if your redundancy is actually an unfair dismissal??
    OH has been told there is to be a restructure. They are making his job redundant and employing 3 new people to do it. It's not a formal notification as it is only a proposal but the full staff team have been told he is going in may.

    His boss has tried a few different things to get of him from overloading him with work then asking if he is competent to do the job. Initiating extended sickness when he was off ill for a week for the first time in 9 years!

    Neither of us belong to a union at the moment but it might be time to join!!

    All advice welcome
    • lincroft1710
    • By lincroft1710 10th Sep 16, 5:49 PM
    • 8,469 Posts
    • 6,103 Thanks
    lincroft1710
    OH has been told there is to be a restructure. They are making his job redundant and employing 3 new people to do it.
    Neither of us belong to a union at the moment but it might be time to join!!

    All advice welcome
    Originally posted by LindieR
    His job cannot be redundant if 3 people will be employed to do it.

    Sangie595 may disagree with me, but it may be a bit too late to join a union if you want their help in this. But definitely do join one.
    • sangie595
    • By sangie595 10th Sep 16, 8:31 PM
    • 2,735 Posts
    • 4,278 Thanks
    sangie595
    His job cannot be redundant if 3 people will be employed to do it.

    Sangie595 may disagree with me, but it may be a bit too late to join a union if you want their help in this. But definitely do join one.
    Originally posted by lincroft1710
    I won't disagree in the circumstances. It is almost certainly too late to join a union, because unions will not take on existing problems from before you join. its like insurance - you can't buy it after the house burns down.

    But I will disagree with the first line. It is entirely possible to be redundant if three people are employed to do the work. The company have said they will restructure. The work could be redistributed so that the new jobs are very different from one, and they may have different terms and conditions of employment. Without more details of the new jobs it's impossible to really comment much.
    • Scarlet56
    • By Scarlet56 13th Oct 16, 1:17 PM
    • 1 Posts
    • 0 Thanks
    Scarlet56
    Help needed before redundancy payment runs out
    My job was made redundant in June this year, all done by the book and payment was very fair. I was also paid 3 months money in lieu of notice.
    I have been searching for a job ever since but as yet with no luck.
    Sadly the redundancy payment is starting to dwindle so decided I really ought to see if there were any benefits I could claim.
    I completed the 'Entitled to' forms which said I would be able to claim Universal Credit, however Universal Credit online application was declined and advised to claim Jobseeker's Allowance, when I completed the forms for JSA I was referred back to Universal Credit.
    Does anyone else have experience of this?
    Or could you suggest where I go from here?
    • Dannyboy123
    • By Dannyboy123 31st Oct 16, 11:48 AM
    • 3 Posts
    • 0 Thanks
    Dannyboy123
    Just made redundant
    Hi All


    I have just been made redundant for the first time in my life (I am 42) after 16 years of work for two separate companies;


    I am currently trying to go through the MSE redundancy guide, start my MPPI claim, network with colleagues and recruiters, and apply for jobs, essentially everything you are told to do when you are made redundant. The company I work for has also kindly provided the services of another company (for up to a year) to help me polish my CV and exploit my network of contacts to try to get a new career.


    That all said I cannot help but feel slightly worried as I have never been in this position before and I have a very large mortgage (costs me almost £1000 per month). Any thoughts/words of advice would be much appreciated.


    All Thanks


    Dan Tilley
    • getmore4less
    • By getmore4less 31st Oct 16, 12:43 PM
    • 26,297 Posts
    • 15,807 Thanks
    getmore4less
    Don't post on this thread start a new one.
    Much better responses as a lot ignore these threads as they get difficult to follow.
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