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
Redundancy payment - a few Q's
sausageface
Posts: 150 Forumite
Hi
I am being made redundant next year. At the moment it is the end of March I am due to finish but I am trying to negotiate a couple of months extension, which is looking likely to happen, until the middle of July. I intend to go to University full time from September.
I will be receiving a payment of £13,500 if I leave in March. I am not sure whether the extension will be a continuation of my contract so payment may be higher or if it will be a new temporary one.
I currently receive roughly 50% LHA (£130 fortnightly).
1. If I am redundant from March but carry on working to July, will the redundancy payment remove my eligibility for any LHA?
2. If I finish work completely in March, how much of an affect will my redundancy payment have on my LHA?
3. I understand about deprivation of capital and it is my intention that my redundancy payment will be for me and my children to live on for as long as possible but I do have things that need replacing in my house; my two boys need new beds and I need a sofa - will this be allowed? Would I pushing my luck with a holiday for us as well?
Any comments/advice welcome
SF
x
I am being made redundant next year. At the moment it is the end of March I am due to finish but I am trying to negotiate a couple of months extension, which is looking likely to happen, until the middle of July. I intend to go to University full time from September.
I will be receiving a payment of £13,500 if I leave in March. I am not sure whether the extension will be a continuation of my contract so payment may be higher or if it will be a new temporary one.
I currently receive roughly 50% LHA (£130 fortnightly).
1. If I am redundant from March but carry on working to July, will the redundancy payment remove my eligibility for any LHA?
2. If I finish work completely in March, how much of an affect will my redundancy payment have on my LHA?
3. I understand about deprivation of capital and it is my intention that my redundancy payment will be for me and my children to live on for as long as possible but I do have things that need replacing in my house; my two boys need new beds and I need a sofa - will this be allowed? Would I pushing my luck with a holiday for us as well?
Any comments/advice welcome
SF
x
0
Comments
-
a new sofa and beds will be fine,a world cruise might not be,but a "normal"hol fine0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K 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