Advice - Would i get JSA if i lost my job ?? Worked all my life saved/have assets ??

stylus360

Hi All

Worked all my life since leaving college in same job apprentice/craftman, since Sept 1991 and have pension/payed full tax/NI etc.

I work in a specialist area of High Voltage sytems and have qualifications BUT no driving as banned !!!

I am under investitgation for making a mistake on a 'High Volytage Permit' i made a mistake on and this may be classed as Gross Miconduct and i may lose my job !!!!!!

I was 39 in December and i am 39 years, no children, single.

I have 2 mortgages and also own 3 other properties that give me an additional income of around £1100 month gross.

I also have shares valued at around £4.5k (7.5k loss)

My question is if i did lose my job would i be eligable for anything as i have been told that since i have more than £16k in assets i will get nothing !!!!!!!!!!

Was it a waste of time working hard, saving, investing ALL MY LIFE to get NOTHING !!!!!

Anyone please help ?

Thanks

rogerblack

Several questions arise.
I'm assuming you are an employed earner.
This means you will have paid enough NI stamp in 2010/11 and 11/12 to qualify for contribution based jobseekers.
This would be paid for 6 months.
Income from rents would not count - I am unsure about the position of SMI - I don't think you get help for any home you do not occupy as home.

shares are irrelevant to JSA-C.

In six months you would then move onto JSA-income based, and your houses other than the one you own, and shares would count as capital.
(the current values of the shares is all that matters).
Your assets (the houses you do not live in) and the rental income will mean you are not eligible for JSA-IR.

However, if you are sacked for gross misconduct - you may be sanctioned and not receive JSA-C.
You can appeal this sanction, if you have 'good cause' that it's unreasonable.
Employment tribunal may also be an option.
You would then be entitled to hardship payments - but with the above assets would not qualify.

RAS

Hi

You may be able to claim contributions based JSA for 67 months at £71 per week. You may also be sanctioned if you lose your job as a result of misconduct but the sooner you sign on the sooner the sanction ends.

What is the net income from the rental properties?

You may well be better off taking in a lodger or two and using that income to live off when the 6 months is over.

rogerblack

RAS wrote: »

Hi

You may be able to claim contributions based JSA for 67 months at £71 per week. You may also be sanctioned if you lose your job as a result of misconduct but the sooner you sign on the sooner the sanction ends.

The sanction runs from the start of the period you could have claimed JSA, not the time you did.

Dunroamin

RAS wrote: »

Hi

You may be able to claim contributions based JSA for 67 months at £71 per week. You may also be sanctioned if you lose your job as a result of misconduct but the sooner you sign on the sooner the sanction ends.

What is the net income from the rental properties?

You may well be better off taking in a lodger or two and using that income to live off when the 6 months is over.

You missed a "/" - 6/7 months.

stylus360

My emplyer has mentioned that they 'may' give me option to hand in my notice (had unions involved).

I am not sure about my net income, i would have to ask my accountant, i do pay tax on the properties (3380 for yer 2011/2012).

What happens if i 'become' an alcoholic with depression/anxiety/bipolar as a lot of people i know i go on long term sick !!!!

DannyboyMidlands

I don't see the problem. You have an income of £1100pcm until you find another job.

McKneff

stylus360 wrote: »

My emplyer has mentioned that they 'may' give me option to hand in my notice (had unions involved).

I am not sure about my net income, i would have to ask my accountant, i do pay tax on the properties (3380 for yer 2011/2012).

What happens if i 'become' an alcoholic with depression/anxiety/bipolar as a lot of people i know i go on long term sick !!!!

Your choice, I know which I would choose to be honest.

Le73Uq86Uv

What sort of mistake? was it a mistake or fraud.

If it was a mistake we all make them so don't resign let them sack you, seems making the offer to resign makes them not sure on the sacking.

Dunroamin

stylus360 wrote: »

My emplyer has mentioned that they 'may' give me option to hand in my notice (had unions involved).

I am not sure about my net income, i would have to ask my accountant, i do pay tax on the properties (3380 for yer 2011/2012).

What happens if i 'become' an alcoholic with depression/anxiety/bipolar as a lot of people i know i go on long term sick !!!!

If you hand your notice in then you can still be sanctioned for leaving voluntarily. Many long term sickness benefits are also means tested.

thorsoak

stylus360 wrote: »

Hi All

Worked all my life since leaving college in same job apprentice/craftman, since Sept 1991 and have pension/payed full tax/NI etc.

I work in a specialist area of High Voltage sytems and have qualifications BUT no driving as banned !!!

I am under investitgation for making a mistake on a 'High Volytage Permit' i made a mistake on and this may be classed as Gross Miconduct and i may lose my job !!!!!!

I was 39 in December and i am 39 years, no children, single.

I have 2 mortgages and also own 3 other properties that give me an additional income of around £1100 month gross.

I also have shares valued at around £4.5k (7.5k loss)

My question is if i did lose my job would i be eligable for anything as i have been told that since i have more than £16k in assets i will get nothing !!!!!!!!!!

Was it a waste of time working hard, saving, investing ALL MY LIFE to get NOTHING !!!!!

Anyone please help ?

Thanks

It is your own fault that you have lost your driving licence, you are the person who has made mistakes in an extremely dangerous environment - I would say that you haven't worked hard enough - so why should you be bailed out? You've been saving - for a rainy day? Well, the rainy day may well be here!