Redundant from today question

Gam2015

So today i was made redundant the company i work for has gone into administration. I am 37 and have worked there 7 years so i will get 7 years redundancy. The administrators have told us we will get notice pay after the notice period if i don’t find another job. They have told us all to apply for jobseekers but i have large amounts in my personal account and premium bonds so would i still need to claim job seekers? Tbh i am going to stay off now until January and just apply for my notice period after the 7 weeks. So my question is should i not bother applying for jobseekers or will this affect my notice pay? Thanks.

El_Torro

If you don't claim Jobseeker's Allowance you are still eligible for any redundancy money, the two are separate.

Why don't you want to claim Jobseeker's Allowance? I assume you've paid your taxes for the last seven years (possibly a lot longer) so you might as well get something back. Only thing to bear in mind is that Jobseeker's Allowance is for jobseekers, you need to be actively looking for a new job to claim it. 

Gam2015

El_Torro said:

If you don't claim Jobseeker's Allowance you are still eligible for any redundancy money, the two are separate.

Why don't you want to claim Jobseeker's Allowance? I assume you've paid your taxes for the last seven years (possibly a lot longer) so you might as well get something back. Only thing to bear in mind is that Jobseeker's Allowance is for jobseekers, you need to be actively looking for a new job to claim it. 

Because i have quite a bit in savings etc and i think i read if you have more than 5k you get less  job seekers allowance.

GrumpyDil

Job seekers allowance is based on your having worked and paid NI counts so would not be impacted by any savings, but as above you would need to be looking for work.

I'd claim it and start looking as you have no idea how long it will take you to find work but that's me as it has taken my son several months to find a basic job. You may have a different perspective.

Gam2015

GrumpyDil said:

Job seekers allowance is based on your having worked and paid NI counts so would not be impacted by any savings, but as above you would need to be looking for work.

I'd claim it and start looking as you have no idea how long it will take you to find work but that's me as it has taken my son several months to find a basic job. You may have a different perspective.

Do they find you jobs i am not sure i want the hassle of going to job centre and that for the sake of £90 pw. I was just going to have my 7 weeks notice period off and then apply for my notice pay after that and start looking for a job early Jan i am a HGV driver so tbf jobs aren’t that hard to find really. 

EnPointe

Gam2015 said:

El_Torro said:

If you don't claim Jobseeker's Allowance you are still eligible for any redundancy money, the two are separate.

Why don't you want to claim Jobseeker's Allowance? I assume you've paid your taxes for the last seven years (possibly a lot longer) so you might as well get something back. Only thing to bear in mind is that Jobseeker's Allowance is for jobseekers, you need to be actively looking for a new job to claim it. 

Because i have quite a bit in savings etc and i think i read if you have more than 5k you get less  job seekers allowance.

Contribution based JSA  doesn't  get impacted by  savings, which should  cover you  for the first 6 months although you will have ot meet  what you agree in your claimant commitment   

Southend_2

If you claim, I believe you get NI credits. May or may not be important to you.