Redundancy payment and IPA.....

Slay63

Hi folks. I got a bit of a problem - here's the case:-

Made BR in 2008

Discharged in July 2009

IPA to pay until March 2012

Redundancy is now a big threat at work. Been there 20 years so would get a redundancy payment of £14,000 and severance pay of about £6,000

My question is how much of the total payout of £20,000 would the OR take off me??

Are there any rules?? I've had a look around the internet but can't find anything.

I have asked the OR in a phone call but he just said let us know when it happens and we'll take it from there.

I'd be grateful if anyone has been in or know of a similar situation could let me have an idea of how much I'd have left.

I would not be looking for another job for at least a year - I want to try some other way.

Many thanks for any help.

Cheers,

Slay

curly04

im undischarged and the same problem

i spoke to the OR and they have said if I get made redunant before discharge they take it all, after discharge the money will be mine to keep.

But I would be expected to pay my IPA off - which I could do in one lump sum

Slay63

Thanks Curly

So I'd have to pay the remainder of the 36 months of IPA, but no more.

Can anyone confirm that please??

Slay63

Thought I might have got more than one reply to what I thought was a reasonable question.

Strange. Nevermind. I'll carry on searching for the correct answer.

Bye

curly04

hi Slay

I asked a few weeks ago and no one has been in our boat so I had to phone the OR and ask them

Sorry

confused76

hi don't be put off, people haven't replied because they don't know. curly was able to answer because she's going through the same thing

Slay63

Of course. Sorry if I sounded arsey, it wasn't meant to

debtinfo

They may take most of the severence pay (not quite sure, it depends on if it is counted as income or asset), they shouldnt take redundancy compensation

philnicandamy

But isnt redundancy payment classed as an after aquired asset while undischarged?

debtinfo

Yes but the OP is discharged, but you are quite right if the OP was undischarged that would be a gonner too

curly04

OP is dischared so they can keep. that is what my OR said when i told them that the redundancys were over 12 months, they said well after 17/11/10 i can keep.

Im not discharged so they will only let me keep my time in lieu and holiday pay