We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is 10 month salary a good deal for VR?
Options

what7
Posts: 80 Forumite

I know it can be a personal choice and everyone circumstances is different but as a rule of thumb, is 10 months salary a good deal for VR?
And how does my age (state pension in Feb 2022) have impact on whether to take it or not?
I only have 19 qualify yrs and 19 yrs in final salary pension, so I might not able to retire at the pension age.
I don't want to take that 16k and have to find a new job in these covid time
0
Comments
-
Your statutory redundancy would be 28.5 weeks and 12 weeks notice pay(is that included in the 10 months?)
that's 6.5 months or 9.5 months anyway.1 -
I don't have a feel for it, but I'd say no harm in asking a company to up it given length of service so could ask if they'll stretch to 12 months.
If you haven't already I'd go on the pension board and get help planning out what pension you would qualify for and if short on state pension what you can top up. If I'm reading that right that retirement age is 2 years away then a 10 month redundancy may be a reasonable option but only if you can get comfortable that you've got enough going forwards.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards