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Redundancy extension


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Recently, the Company I work for decided to move and I said I would take the redundancy being offered.

The Company have offered to extend the redundancy package being offered to exactly 1 year into the future.

The statutory portion of the redundancy remains the same in their calculation, I asked about this and was told:
"the package is based on the rights being settled now and the agreement being signed in 2021"

This doesn't seem right though, I will have worked an extra year for the company so would expect the calculation to reflect that.

I couldn't find any examples on the web which answers this type of query.

Any help would be appreciated.

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This reads to me as a contract negotiation, or rather extension based on offer and acceptance between you and your employer.

Do you have a written and signed agreement as to the redundancy package that has been offered and accepted which details the financial remuneration as well as an effective date?

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I do have a contract to sign. I can't really paste it here due to confidentiality, so I have to be careful.
The first part states:
"Your employment with the Company will terminate on the 31 December 2022 (the ‘Termination Date’) by reason of mutual agreement."
It's a pdf with so signatures which was emailed to me.

The details of the remuneration are included, calculated as if I were made redundant now rather than the end of next year. details of the calculation are not included, just the total.
I guess that's fine if I sign up to it?

 

 

 

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you say "The statutory portion of the redundancy remains the same" - does that mean they are offering enhanced? If so - it is what it is....

Never assume anyone on the internet is who they say they are. Only rely on advice from insured professionals you have paid for!

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I have the option to take redundancy at the end of this year with a retention payment and PILON. This is to be carried over to the end of next year if I agree to stay for the year.
The retention is tax free, pilon isn't.

So, I guess it's up to me if I want to accept it or negotiate (or leave at the end of this year).

Cheers for the help :)

 

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