Always read the small print

I, probably like many others, have always thought that statutuary redundacy
was paid at the rate of one week's salary for each year's service.

This is perfectly true but what I didn't know, until half an hour ago, was
that there is an upper limit of £290 for a week's salary. Thus I now find
myself about to be kicked out into the cold with less than 2 grand tucked
into my top pocket.

Not a good start to the day really.

 

There is a statutory upper lmit, yes. Most decent companies conform to
their own salary payments. I guess your erstwhile employers aren't
decent. Commiserations.

What bike are you going to buy? A Jawa/CZ?

 

Indeed. Is that taxable, or are redundancy payments tax free?

Kiran

 

Ouch

I found that out a few weeks ago when I was doing research as I thought
it was one weeks pay too - but discovered, as you have, that under the
"rules" it's one week or ?290[1] - WTF earns ?290 a week?

Most (decent) companies don't seem to apply that rule, but it seems
you've discovered that either your company has no money (good to be
going then?) or they're just plain mean.

[1] for those gaining more wonga, the tax free limit is ?30k.

 

<TOG@toil>; <>; <>
wrote in message

Christ, thats way out of my league now. I was thinking more along the lines
of a Simpson 50.

 

Tax Free (limit approx £ 30k from memory)

 

Indeed, Still on the plus side, at least the wifes not pregnant at the
moment. Oh hang on, she is. Gonna be a bit gloomy round the tea table
tonight.

 

I'll probably have to gear up for intensive farming in order to feed the
family.

 

all the more time to spend down the allotment, mind.

 

Top bike. One of them was my first bike, I have fond memories of it.
<stickler mode> There is no "p" in Simson. </stickler mode>

 

Arse biscuits.

Write a sketch about it, that'd cheer you up.

 

Man1: I'm afraid we're going to stitch you up with a shite payout.

(FX: Sound of bollocks being kicked)

Man2: I'm afraid I've just kicked you in the bollocks.


Hmm. Needs a bit of work.

 

We've given it a name now and everything. The cats OTH are starting to look
very surpuss to requirements.

 

For the full comedy effect, you're going to have to include the scene
at the Job Centre where you're given your 43 page application form for
Job Seeker's Allowance (me: "I don't want to apply for benefits, I only
want to sign on"; JC: "To sign on, we need to assess you for benefits
to determine how much you are ineligible for") , then told that you've
got too much savings to the income based allowance, you're only
entitled to the £52.50 / week level and that any income that you
receive will be offset from this allowance; then you're told that
having worked for a weekend with the Reserve Forces means that you're
no longer unemplyed and you'll have to sign-off for the week before
coming back next week to sign on again (cue massive argument: Q "the
Reserve Forces are usually in addition to your normal job so how can
they render you employed", A: "Because you work more than 16 hours"! -
eventually sorted once Job Centre recognised, after ringing Head Office
for guidance, that there's actually an exemption for the Reserve
Forces). All this just to satisfy my mortgage unemployment insurance.
Happily Job Centre and insurance both now kicked into touch.

Commiserations and good luck

 

dwb emerged from their own little world to say

Depending on circumstances, it might be appropriate to put some of the "bit
over £30k" into your pension plan as this will offset the tax liability.

 

REWRITE:

Man1: I'm afraid we're going to stitch you up with a shite payout.

(FX: Sound of bollocks being kicked)

Man1: I'm afraid I've just kicked you in the bollocks, as well.

Man2: exits into snow, weeping and clutching abdomen.


Further comment seems superfluous. Best of luck, flash.

 

^^^^^^^

Ha. Ha. Ha.

 

Same applies to payouts from the Redundancy Payments Office if your
employer goes bust owing you holiday pay. Just got stitched up by that
one myself.

 

How much is the average salary these days?
£290pw is about £15k which isn't sparkling but I know of many people who
earn on or around this amount.

As for the criticism for the company, I guess if they are making
redundancies they may be short of money.

People leave one job for another regularly without £2k in their pocket, it
could be worse.

Rick

 

<TOG@toil>; <>; <>
wrote in message

=There is a statutory upper lmit, yes. Most decent companies conform to
= their own salary payments. I guess your erstwhile employers aren't
=decent. Commiserations.

Hm. I worked for a company in the Times Top 50 who supposedly had won awards
for being a triffic company to work for. They paid statutory minimum. I
think that "most" no longer applies, much.

Ali