severance Pay

waterman1

If I take early severance 3 yrs wages can I get job seekers allowance etc. I was thinking of just putting the money in my wifes name leaving me nothing.

getmore4less

contibutions based JSA is payable on termination

ceridwen

getmore4less wrote: »

contibutions based JSA is payable on termination

...which lasts for 6 months and then you get swopped to the income-based type of benefit (and they will, at that point, take into account your wife's income).

So - your savings would be left alone for that initial 6 months on contributions based JSA. After that time - they would ignore the first £6,000 of capital you have (but chances are that you wouldnt be due for any further benefit anyway because of your wife's income).

woody01

waterman1 wrote: »

If I take early severance 3 yrs wages can I get job seekers allowance etc. I was thinking of just putting the money in my wifes name leaving me nothing.

I certainly hope not.
Why should you scrounge off the taxpayer when you have your wages?

If you try it, i hope you get caught. That way, not will you be had for fraud, but so will your employer.

Uncertain

You would only be entitled to contributions based JSA if you are actually seeking work, not having an extended holiday as you have money in the bank!

If it was decided that you had intentionally made yourself unemployed the JSA may be withheld for a certain number of weeks.

As said above, after 6 months any JSA would be means tested.

dampsquib

getmore4less wrote: »

contibutions based JSA is payable on termination

My understanding is that this only happens if Waterman1 is made (or volunteers to be made) redundant.
He mentions "early severance", he might be considering going on something other than redundancy, which could mean he won't qualify for Jobseekers immediately.