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EVALUATION FORM - VOLUNTARY REDUNDANCY PERSONAL Name: Section: Employee No: Service at 31/3/09 Hours of work: Current grade: Department: Job Title: Age at 31/3/09: Spinal point: Substantive grade:.

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A Typically there are no restrictions on you taking up employment after you are made redundant. The trouble is that some employers often stipulate that you do not take up any employment for, say, three months after you accept the severance package.

What benefits are you entitled to if you take voluntary redundancy? As soon as you stop working, get in touch with your local Jobcentre Plus or Jobs and Benefits Office. But remember that benefits such as Jobseeker's Allowance (or Universal Credit) and Housing Benefit won't kick in immediately.

Voluntary redundancy cannot be enforced, and it is not compulsory it must be taken voluntarily by the employee. This also means that there is no obligation for your employees to accept the terms that you may decide to offer as part of your voluntary redundancy package.

It's important you don't underestimate how long it will take to get another job. When economic conditions are normal, a manager or professional can expect their job search to take between three and six months. In the current economic environment, it might take a lot longer.

Voluntary severance payments are calculated using the same age bands as statutory redundancy pay in order to determine the number of weeks' pay. A locally-agreed multiplier of 1.75 is then applied. Unlike SRP, voluntary severance pay is based on the actual amount of a week's basic pay (for example, it is not capped).

Refusing voluntary redundancy will not affect your entitlement to statutory or contractual redundancy pay if you're dismissed for redundancy in the future. You should think very carefully before accepting voluntary redundancy terms.

Ask your employer what the redundancy package will be. Sometimes employers offer incentives for taking voluntary redundancy, like extra redundancy pay or not having to work your notice period. You'll also still get any other redundancy rights you're entitled to, like time off to look for a new job.

Voluntary Redundancy Pay These are the general guidelines: Under 22 years old: You get half a week's pay for each year worked. 22 41 years old: You get one week's pay for each year worked. 42 years and older: You get one and a half week's pay for each year worked.

Although employees who do accept a voluntary redundancy offer are technically not resigning, it's usually preferred over a compulsory redundancy. ... Employees would rather accept a voluntary redundancy rather than being forced to leave, even if compensation would be the same in both cases.

If you plan to start a new job before your consultation period has ended you will almost certainly lose your redundancy pay. This is not necessarily a bad move though, if your redundancy pay is only around two months' pay it could be more beneficial to accept the new job.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232