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Redundancy & redundancy planning

Archives for April 2014

A bit confused, redundancy, pension, insurance etc
Hi So I wondered if anyone can help. I have been made redundant, currently on garden leave. I have a generous package of £67,500 if I don't take my pension immediately. If I do then I get a reduced lump sum of £49,000 and a lump sum pension of £45k and a monthly pension of approx £700. I have redundancy insurance which…
Questions about redundancy pay.
I was made redundant from my job in the civil service on the 28th of March and was informed I was due a redundancy payment. I was told I would receive it "some time in April". I found out that the civil service outsourced the handling of my redundancy payment to Capita and apart from a letter stating the amount I was…
Commission Withheld by Employer - Advice Please!
Hi guys, Would really appreciate any advice. I've been working for a global leading company in the IT sector in a sales role for just over 3 years and recently handed in my notice under some duress, in order to avoid a nasty situation of my company effectively managing me out. This is following several instances where I've…
Money owed from insolvent company
Not sure if this is the right forum. The company I worked for suddenly, without notice shut its doors in March 2013. I received redundancy from the Insolvency Service. I went to an Employment Tribunal and was awarded annual leave pay and lieu of notice pay. The company has now gone insolvent. Will I be able to claim these…
Redundancy taxation Query
I have been offered and taken a redundancy package, the terms are quite generous and I am walking away with £90000, I know I will pay tax on the amount over £30k, but can anyone advise on the following questions ? 1. What will be the remaining amount after income tax ? 2. Are there any steps I can take to reduce the…
tax year for payment in lieu of notice
Hi Board, I would appreciate some advice/info on the following: I've left my company on 31st March this year, after a settlement agreement. I got paid on April 20th this year for the settlement and 1 months wages in Lieu of notice (I had a month termination clause) in my contract. However, I was shocked to find I was taxed…
On sick leave and about to be made redundant
I recently had an operation and have been off work for almost 5 weeks, with a little over a week to go before I am fit to return to work. Despite me offering to work from home from the 3rd week, my bosses have declined this, and they are not paying me my regular salary - but instead, I am being paid statutory sick pay for…
Redundancy and pension question
Hi all I just wanted to say thank you in advance for any help you may be able to give me with regards to pension options when made redundant at 55. Can anyone shed any light on "unreduced pensions"? Is anyone aware of any rules around beingmade redundant at 55 and the employer being obligated to "top up" the employee's…
Redundancy Advice
OH was handed a letter on the 16th of this month stating that two people in the department were to be made redundant and the department itself will cease trading on the 30/05. The letter is a standard template with just name/dates added in. The problem is that the letter has some dates omitted, it just has <date> written…
Job merged
Recommendations: 0 Hi, I wonder if you can help answer a quick question. Over the past month the company I work for has announced a restructure and mine and a colleagues roles are to merge leaving one position. At the same time a new position is being created in the team that both of us are capable of doing. Knowing that…
Redundancy query
I have worked for a local authority for over 8 years. Last November I was at risk of loosing my job due to cut backs. I had an option of taking VR but managed to secure another job with a different local authority and my service has been continued over. I have now been with my current job for 5 months and hate it. I wish I…
Employer with winding up order
Hey, So a couple of weeks back, it was made public that HMRC issued a winding up order against my employer, which is a small, single site based office, with 20 staff. I was actually informed by a customer, and a supplier, before I heard anything from my boss, the Managing Director, which was about 5pm in the afternoon the…
payment in Lieu of notice
hi my partner has just been terminated from work due to medical grounds(all done properly etc etc)..he received a letter from his work saying he will ''receive a payment in lieu of his contractual notice period of one month''...he was previously receiving SSP from his employer until it run out....will his payment in lieu…
Redundancy hell. Help!!
On Wednesday the 5th of March me and 10 other staff members were told that the company we worked for would be shutting the following Saturday which was the 15th. Please note we were told this the day we were due to be paid our previous months wage!!:mad: Our employers told us that if we stayed on till the following…
Redundancy
Hi, I was wondering if anyone could possibly give me any information/experiences regarding redundancy. I was made redundant (1st time) on 19th March as the company went into administration. I filled in an RP1 form and sent it to liquidators and worked out I was owed 2 weeks pay I never received, two weeks notice and 4 days…
Redundancy and Lump sum pension
Hi, My husband is thinking of taking voluntary redundancy roundabout October time and has worked there for 37 years. he will be 53 in August. He currently earns about £41,000 a year and can take a lump sum in pension of around £51,000 which is tax free and a yearly pension of about £8,500. he also will get a redundancy…
Advice made redundant with in a week
Hello all hoping for some advice and to know weather the following has been carried out correctly. this post is on behalf of my room mate. She works/worked in a beauty shop as one of there therapist and have been working there just shy of 2 years I believe is a month from her 2 year mark. Last week Wednesday she was…
Redundancy and NI
I am a 59yo Civil Servant and likely to be made compulsorily redundant next year as my job is disappearing. I reckon I will be ok with a pension of £20k but want to ensure that I maximise my SP and make NI payments between then and hitting 66. I assume I will get nothing from HMG if I sign on but am restricted in the jobs…
Offered redundancy/New job in company
Hi I was offered redundancy a short while ago but now my boss says there might be a job for me. I am unsure of the legalities of this and whether I am now not due my redundancy (it's the same job but with more responsibilities/work, possibly for less hours paid). This would be fine but I would be placed in a fairly hostile…
Redundancy investment
Hi, I have been made redundant after a great number of years. Because of these events, there is a possibility that I may receive an amount of money for my services. I am however, unsure of what the best way to maximise my money would be if I do In fact receive a severance payment... Would it be wiser to invest the money…

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Redundancy & redundancy planning

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