We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

redunancy or not

hope this is in the right place, sorry if its not. i have a dilemma about my future, i am due to be made redundant in the next year or two, dont know when exactly, nhs computers, i currently earn about 15,000 a year and have worked there 6 or 7 yrs depending when we are made redundant, we think the nhs are going to pay 4 weeks salary for every years service, so think my payment would be 7 or 8 thousand.
i have seen an opportunity to retrain as a self employed estate agent with potential earnings of up to 30,000 per annum but dont know if this will still be around when i need it.
i could have earned double my salary by the time i am made redundant but am very nervous of not having a guaranteed monthly income.
i live in the country and working from home has been my dream for a long time, this is a reputable company which doesnt help in my decision, any advice greatly appreciated.
p.s. i have a supportive partner but still need a steady income,: thanks :confused:
"Don't go where the path may lead,
go where there is no path and leave a trail"
Anthony Robbins

Comments

  • Mrs_Optimist
    Mrs_Optimist Posts: 1,107 Forumite
    I can't see that you can make an informed decision until you know exactly what redundancy you will be getting as presumably you will need to invest some money in your new venture?

    Redundancy pay is usual one weeks wages (capped at £290) for every FULL year that you have worked up to a maximum of 20 years. The weekly amount is higher if you are over 41. I have been at my work for 14 years and thought that I would get the same payout as you are thinking but discovered that I would not, only what is required by Law. Thankfully I have not been made redundant but I would strongly recommend you check your pay deal BEFORE you make any decisions. I really hope that you enjoy your new career!
  • sured
    sured Posts: 1,250 Forumite
    Part of the Furniture Combo Breaker
    the union i am in are currently negotiating four weeks pay for every years service, this is for everyone regardless of their age, due to the new age discrimination laws , they havent achieved this yet but the nhs are very keen to avoid any claims that may occur so it may just happen.
    "Don't go where the path may lead,
    go where there is no path and leave a trail"
    Anthony Robbins
  • Mrs_Optimist
    Mrs_Optimist Posts: 1,107 Forumite
    I wish I worked for the Public Sector!

    Seriously, make investigations now and reseacrh the sort of jobs you would like and then when you have your redundancy and know exactly how much you have to invest, make your final decision.

    Good Luck
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.