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Company being liquidated - will I get redundancy pay?
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ClaraSolis
Posts: 71 Forumite

I'm after some advice please.
I work as the only employee in a small company. Since lockdowns started last year, our workload has plummeted and I've been on furlough for the last few months as we've had no projects coming in. Today my boss told me that the company will most likely be liquidated in the near future.
I'm super anxious right now as I'm not sure what I need to do next or what help I can get, if any.
First of all, I don't think my boss will be able to pay my redundancy pay if they have to liquidate. I've worked for the company for 7 years. Where would I have to go if they can't pay my redundancy?
And should I be expecting anything other than redundancy pay? For example, my holiday allowance renews in May but I (obviously) haven't taken up any of my holiday allowance.
Also, as my boss has been struggling for money, they have also not been paying my pension contributions for a while. Every month I get an email from my pension provider to let me know that they've been reported, but nothing happens. This is not just the company's contributions, but also the money that's been witheld from my salary. If the company is liquidated, what happens to this pension money that is missing from my funds? How can I reclaim it if my boss can't pay?
Sorry for all the questions, I am in a bad state right now as I am worried about paying bills and our mortgage...
I work as the only employee in a small company. Since lockdowns started last year, our workload has plummeted and I've been on furlough for the last few months as we've had no projects coming in. Today my boss told me that the company will most likely be liquidated in the near future.
I'm super anxious right now as I'm not sure what I need to do next or what help I can get, if any.

First of all, I don't think my boss will be able to pay my redundancy pay if they have to liquidate. I've worked for the company for 7 years. Where would I have to go if they can't pay my redundancy?
And should I be expecting anything other than redundancy pay? For example, my holiday allowance renews in May but I (obviously) haven't taken up any of my holiday allowance.
Also, as my boss has been struggling for money, they have also not been paying my pension contributions for a while. Every month I get an email from my pension provider to let me know that they've been reported, but nothing happens. This is not just the company's contributions, but also the money that's been witheld from my salary. If the company is liquidated, what happens to this pension money that is missing from my funds? How can I reclaim it if my boss can't pay?
Sorry for all the questions, I am in a bad state right now as I am worried about paying bills and our mortgage...

0
Comments
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Here's a link to everything you need to know
Your rights if your employer is insolvent
https://www.gov.uk/your-rights-if-your-employer-is-insolvent/apply-money-owed
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