Do I, Don't I?

ems2

I think the most important questionis how easy is it for you to get another job. With a year to find a job, I would say definately take the voluntary redundancy.
Maybe you could use it to start up something on your own, or relocate to where other jobs are ( not sure of personal circumstances obv.) You stated you hate the job anyway so you are basically being paid to find another job. I did this and was lucky enought to find a new job within the month paying ALOT more money :-)

An alternatitve way of looking at it (own judgement completely if it relates) what if you dont take voluntary redundancy and the co. is forced to make some one less budget savvy/capable as your self who would not cope as well.

Good luck with your decision

The_Saver_2

Sloping Bird - thanks for sharing your own personal experience with me. I appreciate it and it is really helpful. I agree with your point about thinking about my decision really carefully. I don't have to decide until end Dec/early Jan so there's plenty of time for me to research stuff and do as much as I can to help me with my decision and, also, put me in a stronger position if I decide to take the leap.

Ems2 - some great points. Luckily, if I turn the redundancy down, the company will offer it up to someone else. There's no forced redundancies for the foreseeable future but that was a valid point. Because I've been with the company for so long (and I have no formal qualifications), I know that I won't be able to get a job on the same salary. That isn't actually a big deal for me as I've already got some savings and, hopefully, I might still have some of the redundancy money left.

I did have some good news today though. I re-checked the redundancy pay and am entitled to another £5k. I still need to check the position on CSA payments but, hopefully, the extra £5k will pay that (or maybe contribute towards it).

SlopingBird

The Saver, it sounds like you have pretty much made up your mind so I really do wish you all the best. After posting my message on Wednesday, I had a phone call about some temporary work which just proves that you never know what's around the corner. Whenever I have to make a really hard decision, I try to remember some advice in Feel The Fear and Do It Anyway, which is that there is no wrong decision as whatever decision you eventually make, you just end up with a different outcome. Do what you know is right for you. Life is for living after all.

jackieblack

Something else to think about......

You've said that you hate your current job.
If, for practical financial reasons, you decided not to accept the redundancy and continued working in this job that you hate, would this make you feel even more unhappy - knowing you had had the opportunity to walk away with a decent payout?
I know that I would end up feeling even more trapped and miserable.