Redundancy, self employment and Universal Credit

Hi. I have a quandary and hope you good folks can help me.
I currently work part time and have my income supported by UC. I have just been informed by my employer that the shop that I work in is to close down in September. I am due a small amount of redundancy pay ( £1300) but am concerned that this will affect my UC payments ( I already know they will take holiday pay I am owed into account). We have been told that the week after the shop closes, we will have to clear out the stock from the shop, which will involve a lot of heavy lifting. I am over 60 and very worried about being physically able to do this. So I may have to risk my health in order to receive redundancy pay that UC may use to lower my payments. Also I am planning to become self employed after finishing work and the redundancy payment will help me with capital costs. I have no savings and am single. So should I leave before the shop closes or will it be worth staying to get my redundancy pay?
Meet your Ambassadors

Categories

  • All Categories
  • 341.8K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 233.9K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards