VR or CR ?

amc1

I am going to be made redundant. I may be in a position to take VR or be made CR. Financially, there is not much in it.

My question is should I take voluntary redundancy or opt to be made compulsory redundant. Are there any implications I am not aware with either or option ?

Thanks.

Undervalued

So called VR doesn't actually exist despite it being a commonly used phrase!

If your job is genuinely redundant then the firm must pay you off according to the formula laid down by law. Providing the redundancy was genuine there is no come back.

Anything else, so called VR, is actually a mutually agreed separation. The terms are whatever the parties agree. You will have to sign an agreement waiving any right to claim unfair dismissal. Apart from one or two things which can't be excluded by law you have no further claim against them. So, there needs to be something worthwhile in it otherwise why would you sign any possible rights away? If your employment could have continued then you may be jeopardising your right to claim unemployment benefit for a period of time.

amc1

thanks.

Because I will be receiving an early pension, it looks as if I would not be able to claim jobseekers allowance in this case.

Undervalued

amc1 wrote: »

thanks.

Because I will be receiving an early pension, it looks as if I would not be able to claim jobseekers allowance in this case.

I don't know I'm afraid.

Does an early pension prevent you from claiming contribution based JSA (providing you are actually actively seeking work)? Obviously it may prevent you getting anything that is income based but is there not an entitlement to X months contribution based JSA?

You would need to check then decide if you want the hassle!

getmore4less

Are you trading payments for pension?

You can still claim JSA if you plan to look for work, even when there is no JSA payment due to income you still get your NI credits.

many chose to avoid the hassle of the interaction with JC and not bother with JSA.

marlot

DO you have mortgage or income insurance? They may not pay up for VR.

amc1

no, no mortgage or income insurance.

Kynthia

Do you have a union that can advise you on the differences?

amc1

yes I do have a union.

EconomicsGirl

Makes very little difference between the two.

Scorpio33

amc1 wrote: »

thanks.

Because I will be receiving an early pension, it looks as if I would not be able to claim jobseekers allowance in this case.

You can only claim jobseekeers allowance if you are looking for another role.

Are you going to retire with your pension?

If not, the JSA depends on your savings and other factors. The only thing with VR is the job centre may argue that you in effect have chosen to be unemployed and therefore would be subject to a sanction.