LGPS and voluntary redundancy

Retireinten

After 37 years service I'd expect you'd automatically get 12 weeks PILON if you were made redundant (although you be expected to work this as notice), in addition to any redundancy and in addition to access to your pension, so 16 weeks seference is hardly generous now is it?!


Personally I'd refuse on the basis that the offer is far off the mark to make it worth your while, but make it clear you are open to a better offer.... one that I'd expect to at least equal 12 weeks PILON plus the amount offered under VR (this is normally more generous than CR) plus a sweetener.  Bear in mind the impact of the tax free element on any redundancy. Any severance I expect will be taxable. 


If not, then ride out the compulsory redundancy process and see what happens. You may have to apply for a role and if not successful it would be CR with access to your pension.


I do have a question? If you don't get access to your pension can you actually afford to retire? If not what's your shortfall? Would this be your ballpark figure for accepting a severance payment? Or do you plan to escape and find other employment? 

Paz2021

Thanks retireinten

16 weeks severance is an absolute no!
I'm just going to sit tight for a while.