how soon can you leave after notification and still qualify for redundancy pay?


There is a likelyhood that my role will be made redundant but not for a month or so.

I will be entitled to roughly the maximum statutory amount (around 16/17k) along with any notice period pay so it will be a reasonable amount.

My questions is, at what point can I 'leave' but still be entitled to the redundancy pay - is there a set date after notification or can you leave within the consultancy period if they offer voluntary and still qualify?

I created a CV and have a couple of second interviews in the next few days but im wondering about maximising the timing so I collect redundancy pay and start a new job soon after.  The new positions are lower pay but it has made me think that my skills are marketable so I may not need to jump at the first opportunity and could have 6/8 months cusion.

Comments

  • sammyjammy
    sammyjammy Posts: 7,364 Forumite
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    It will be up to them, you either stay until they tell you to go or you come to an agreement with them, you can't expect to leave early and still get the payment.
    "You've been reading SOS when it's just your clock reading 5:05 "
  • marcia_
    marcia_ Posts: 1,734 Forumite
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    edited 25 January 2023 at 9:09AM
     You can't leave until the contract has been ended unless you've negotiated otherwise imo. Otherwise you forfeit your redundancy as you've left willingly 
  • Ant555
    Ant555 Posts: 1,569 Forumite
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    edited 25 January 2023 at 10:41AM
    Thanks -, just trying to forward plan my unexpected start to 2023

    If I am lucky enough to get offered a job quickly (albeit at lower pay) then I have a decision to make - sacrifice redundancy option, jump to new job and keep looking for a higher paid job or sit it out, accept redundancy money then start my search.
  • MalMonroe
    MalMonroe Posts: 5,783 Forumite
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    You say 'there is a likelihood' - so have you been officially notified as yet?  And if there are redundancies, will you be offered one? You might be too valuable an asset for the company to lose, for all you know.

    When I applied for a voluntary redundancy some time ago, HR and I agreed a leaving date. So I would imagine you'll have to wait until you're given a date, work until that date and then leave with your redundancy intact. 

    It seems to me that you won't have any trouble getting another job if you are made redundant, since you are very proactive and already have two second interviews arranged. And it's good in that you are now appreciating your own worth. Your skills obviously ARE marketable, as you say.

    You could allow yourself a cushion but maybe not as long as 6-8 months. My redundancy money didn't last very long and that was with me being careful - although I did undertake a full time 3 year undergraduate degree course straight after leaving my job, complete with undergrad loans.

    It's up to you though, this could be the start of something new. A new job, or maybe some retraining?  Some time to have a think about what you really what to do too.

    If you're offered one of those jobs, though (or maybe even both, who knows?) you could say that you're waiting for your redundancy, will they wait for you? 

    Don't sacrifice your redundancy - this really could be a time for you to think of a new beginning rather than a bad ending. 

    It worked out pretty well for me, anyway and you sound like a 'go-getter'. I wish you all the very best but I'm sure you will find something that's maybe even more suited to your skills and talents.   :)
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
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