Negotiate An Already generous Redundancy Package?

westv

Company has been taken over and they are thinking of moving us all to another location. I believe I may be due redundancy as I will be unable to travel to the new location. At present we have been advised that the package will be

3 x weekly salary (for 41+) x years of service
3 months gross salary
25% "uplift" of gross salary figure to account for benefits (pension contribution etc)

For me, with 13 years (come 1st April 10) service this would work out to a generous package. However, would I be taking the Mick if I tried to negotiate a better deal. 6 months pension contributions instead of 3? 12 months medical insurance, phi and life cover? I know I will have to explain my reasoning behind these.

Debt_Free_Chick

Your employer is likely to look at a total package that would be along the lines of what an Employment Tribunal would award, if you went for Unfair Dismissal ...plus a little more, maybe.

What is your contractual notice period? That would be the starting point for arguing compensation to include loss of pension contributions and other benefits i.e. you either want those benefits to continue for the duration of the notice period or you want a payment in lieu.

Your example doesn't support this, though. If your notice period is 6 months, then claiming 6 months of pension conts makes sense - but then why would you want 12 months of medical insurance?

And you have to take account of the basic cash package too.

And be careful that you don't end up with more than £30k as tax comes into play.

Probably the easiest way to assess the package is to take your notice period and aim for x months pay + x months pay in lieu of benefits, all paid gross as compensation for loss of office. But this assumes that you have no PILON clause in your contract.

westv

My notice period is 3 months. The generous package available takes account of that already but my question really is how far can I stretch the terms in my favour.