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Is 10 month salary a good deal for VR?
I know it can be a personal choice and everyone circumstances is different but as a rule of thumb, is 10 months salary a good deal for VR? And how does my age (state pension in Feb 2022) have impact on whether to take it or not? I only have 19 qualify yrs and 19 yrs in final salary pension, so I might not able to retire at…
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One pool redundancy
Hi I am new to the forum so please go easy. I am looking for some advice on my redundancy situation. I have been told that I am in a redundancy pool for one and I am not sure if this is correct? I have been with my employer for 9 years and 8 months and my job title is logistics branch manager (recruitment), I have been…
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Redundancy - being asked to sign contract of employment as never had one....why?
My husband has worked for his employer for 15 years and has never had a formal written contract of employment, just a one page letter of introduction to the company received on day one which just specified rate of pay and basic hours. He has just learnt that he is going to be made redundant (we knew it was on the cards)…
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Redundancy-Length of service
Here is the situation.... An employee has worked for company A for 7 years then resigns from the position to work at company B, 3 months later is rehired at company A for 2 years until present. Redundancy is based on 'last in, first out'. For the purpose of selection for redundancy has the worker got 9 years service or 2…
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Colleagues informed of MY redundancy before me
A friend of mine is going through the redundancy consultation process with a final meeting next week, but they've been contacted by a colleague wishing them well for the future. It seems a senior manager mentioned my friend was being made redundant, this has since been confirmed by HR. Does this breach in confidentiality…
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Voluntary Severance Offered, but second phase of cost savings mean Statutory Redundancy
I work for a company and there is currently a program of redundancies and other cost saving measures in place that will span over 4 months, in 2 phases. Phase 1 has started now and we are 10 days into the 45 day consultation period There is around 150 staff currently at risk of redundancy with around 100 that will be made…
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Holiday entitlement during redundancy
Hi, After some advice. I am being made redundant and during consultation they advised my final pay would include untaken holidays. When I received my redundancy letter they changed this and told me I have to use them or lose them. I get that they are entitled to this, however I spoke to Acas and they advised that if I…
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redundancy during coronavirus
Hi I am on furlough for the past 5 weeks. I have now been notified they are restructuring my role and I am at risk of redundancy. what are my rights while I am furloughed and can my redundancy payments be based on my furlough pay? Thanks in advance.
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Voluntary Redundancy
I have the chance of taking a good voluntary redundancy; 33 years in role pre tax £51K would be paid. already have £13K in savings and after clearing debts (Inc Mtge) would leave £20K in savings. I am (only !) 51 years old. With the job market it is and could be, I am really stuck with my decision. If I was a little older,…
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Warning of Redundancy - Contract Restrictions Agreement
During my period of being furloughed from work, I received a letter from the Commercial Director of our company warning of possible redundancies within my division and they were looking for volunteers before moving onto compulsory redundancies. Due to there being over 20 roles affected, the rules of collective consultation…
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Redundant staff being replaced by Sub-Contractors
I've recently been made redundant and I'm still on my notice period. My employer said just before Lockdown that they possibly needed to make 8 of us Electricians redundant. During being Furloughed we were informed there would be a 3 stage points process to determine who would be at risk. Since being at risk, I've been…
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Statutory redundancy pay question - if contract changes
Hi all, My mother was recently, after 20 years of being a full time employee, put on a part time contract. She was working four months part time before being furloughed due to Covid. She is now back in work, but there is talk of redundancies. She looks likely to be made redundant. As she has been with the company 20 years…
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Boss can't afford to pay any statutory redundancy money but is NOT insolvent
The sole trader business I have worked for for 22 years is closing. I am being made redundant on 1st August. The boss cannot afford to pay his staff any statutory redundancy entitlements. He is going to wait until one of his creditors makes him bankrupt - which could take months, whereas I only have 6 months to make a…
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Company i work for is going into liquidation, i'll get 3 months notice, however......
Good afternoon. Thank you for taking time to read this post. I will be made redundant on 31/07/2020. I have had all the letters, and also being paid till the 31/07/2020, i am also furloughed with same company. The company is going into liquidation, we have been told there is no money available for severance. I also know i…
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Redundancy payment Vs tax year
Apologies if this is a common question but I had a look and couldn't see anything. About to become embroiled in a fight with HMRC over a historic tax issue that's complicated by a redundancy payment. Here's the scenario: I was made redundant from a role My last official day of employment was march 31st 2018. I have a…
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Redundancy - holiday pay entitlement
My holiday year runs from June to May. When we entered lockdown my company put a ban on new holiday requests but said unused holiday could be carried over to the new holiday year. I still had 4 days holiday owed and have accrued 4 more days to my redundancy date based on a pro rate of 25 days due / 12 months x 2 months…
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Redundancy Tax
I’m taking redundancy in August this year - I was previously made redundant from the same company nearly 7 years ago but returned to a completely different job / position after 15 months. Does this impact on the tax I am charged on my 2nd redundancy payment? As I understand the first £30k is tax free it has been suggested…
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Salary Sacrifice if Paid in Lieu of Notice
Grateful for the readers' advice on this - About to be made redundant i'm trying to know whether I will still get the sacrificed part of my reference salary paid into my pension (by the employer) if paid in lieu of notice - if not, I will reduce the amount that I sacrifice before notice is served, so that they need to pay…
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Redundancy - Years of service question
Hi, Please can anybody advise? I am about to start redundancy consultation with my employer. The question I have is that my contract states that I have a 3 month notice period. I have been with my company for 4 years, and my redundancy payment has been calculated according to this. However I will have my work anniversary…
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Moving to a cheaper rental accommodation before redundancy
Hi, I’m currently going through the redundancy process and have had my first consultation meeting. It’s currently looking unlikely that there will be a possible available at the end of the process. Based on this I want to move to a cheaper rental accommodation as part of reducing my outgoings. How should I approach this,…
