monies in lieu of notice help

hilow

Hi all
I went to work this morning to find that the company I work for will be calling in the liquidators later today and no one has a job as of this morning. All the employees were sent home without any information on what to do next. I have worked for this company for the last 18 years and understand from searching the net that I will receive redundancy monies from the government for the loss of my job and monies in lieu of notice. Now for the question If I find another job before I receive my monies in lieu of notice will this affect this payment or will I still receive it new job or not?
Thanks

fengirl_2

Your old job and any new job are entirely separate. You are entitled to redundancy and PILON, whether you get a new job or not.

hilow

Thanks for the speedy reply

LittleVoice

Sorry to be the bearer of some possibly bad news as well as good.

If the business, when liquidated, is unable to pay, the Govenrment scheme is described here - http://www.direct.gov.uk/en/Employment/RedundancyAndLeavingYourJob/DG_10026695

Weekly pay is capped at £330/week (equal to about £8.80/hour for a full-time worker).

Accrued holiday pay is also payable (based on the £330/week basis)

Compensatory notice pay (PILON) - new earnings will be taken into account - that's because you are supposed to be mitigating your losses by finding other work

hilow

Thanks for the reply, not what I wanted to be advised but what I suspected. If I can find a new job straight away I am effectively £3960 worse of because the company has gone into liquidation, seems a little harsh to me.
Thank you all for your help.