Potentially Taking A Settlement Agreement

cookie666

Been at the company for around 20 years.

In 2015/2016 my company was looking for volunteers for VR, I put my name forward, but my line manager begged me to stay but the package at the time was very tempting, 2 years down the line we have a new CEO and my LM has left (taking a settlement) and last month in my annual review I was told that my team may be going in the new year and that my role was changing vastly (Redundancy for me was not mentioned, but I could see this route in my head) however, my new LM did say have I considered a settlement agreement (they brought it up, not me), I said yes and they've prepared a package, however, this is around 4K less than my VR package from before, does this have to be taken into account at all or are they both completely unrelated?

I'm now in the position that I think I need to leave the company as down the line redundancy may happen and I'm not motivated to stay any more. They've offered to contribute towards legal advice (a tiny amount) so want to be armed with as many questions as I can before I see a solicitor.

Comms69

Totally unrelated

Masomnia

That was then and this is now so they're not bound by it. You can always ask for more. If they're expecting to negotiate with you then they will start with a lower figure. Then again they might not be planning on negotiating and it might be the final offer.... see what your solicitor says and what they say.

cookie666

Thanks for the input, any questions that I should be asking my solicitor?

MEM62

cookie666 wrote: »

Thanks for the input, any questions that I should be asking my solicitor?

You only have one question to ask. Is the settlement amount reasonable? If it exceeds what you would be entitled to as statutory redundancy the solicitor will say 'yes'.

That's pretty much all there is to it.

nicechap

And whether the settlement agreement includes an agreed reference.