Unpaid layoff and redundancy rights

Hi all,
Myself and over twenty colleagues were recently placed on temporary unpaid layoff (written in contract) after months of being furloughed. It appears we now have three choices: 1- resign now and forfeit any redundancy, 2- sit it out and continue without any income indefinitely, or 3- as employees we have the right to ask for voluntary redundancy after 4 weeks of layoff.
My question, if we use option 3 are we forfeiting the right to significant pay in lieu of notice because we ASK for redundancy rather than being offered it?
Quite a few of us would be entitled to max 12 wks notice. Can the employer use this tactic to avoid paying out thousands in PILON and holding consultation periods required as they would by imposing redundancy from the outset?
Thanks but can't find any clear guidance anywhere.

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