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Redundancy whilst in sequestration
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UncannyScot
Posts: 2,070 Forumite
Hi,
wondering if anyone has experience of this and what to expect.
I may be made redundant and I have just over a year to go until I complete my sequestration. I know that the trustee of my sequestration will take a good chunk of my redundancy package, I'm just wondering if I will be left with anything that I can put by to my EF and to help me keep going until I find another position.
Anyone have any insights on this?
wondering if anyone has experience of this and what to expect.
I may be made redundant and I have just over a year to go until I complete my sequestration. I know that the trustee of my sequestration will take a good chunk of my redundancy package, I'm just wondering if I will be left with anything that I can put by to my EF and to help me keep going until I find another position.
Anyone have any insights on this?
BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.
0
Comments
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Whats EF ?0
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Emergency Fund savings
BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.0 -
Page 128-9 of https://www.aib.gov.uk/sites/default/files/trustee_notes_for_guidance_-_nov_16_-_updated_feb_20.pdf maybe of interest
its seems that you would normally be able to keep the statutory redundancy payment, but the rest vests to the trustee1 -
My redundancy package would consist of the following;
The worked months salary
One months salary (Payment in lieu / Lie Time...)
Statutory Redundancy Payment
Accrued Holiday Pay
So, no enhancements or additionals, just a standard redundancy package of what I am legally due.
If, I am reading correctly, this is under income and therefore not vested in Trustee?
I will, of course discuss with trustee, I am just trying to get some background info before doing so.
Thanks.BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.0
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