# we've been made redundant



## za.64

after nearly 39 years working for the same company, and my partner who worked with me for 21 years have both been made redundant. not a nice feeling as we have 2 young children and a mortgage. so close to being able to claim my pension (55 in feb).
alan


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## Andy1972

sorry to hear that. Ive had that feeling 4 times in the last 3 years so I no longer stress about it now.!

You will likely get a very sizable redundancy pack which should see you through to your early retirement.


Im sure its 1.5 weeks for every year you've worked (over 45's). so that's 58 weeks salary!! ie over a years worth.

Edit - if they've gone in to liquidation and you need to claim from the government then they will pay it but its capped at The maximum amount of statutory redundancy pay is £15,240 

Just hope for a private settlement!


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## za.64

yes I got a decent redundancy payment. but hope to get the leaving date deferred until after my 55th birthday in feb, that way I can get a nice lump sum tax free. im on garden leave now but have been paid everything upfront for some unknown reason.


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## Vossman

Sorry to hear this but get through Christmas and try to put it away for the sake of the kids, January is a new year so maybe then time to look at options.
I retired at 55 partly forced but partly because I was hacked off with being a chump, very daunting but I wished I had done it donkeys years ago now.
You and your family will be okay.
Happy Christmas to you all.


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## TonyH38

Good luck hope everything goes you and your families way as it not ance thing to happen


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## Kerr

Terrible news anytime of the year. Doubly worse with the two of you hit at Christmas.

I hope they put a good package together and not pay the bare minimum. 

Hopefully other jobs come up too.


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## za.64

they played ball and gave us both the maximum, ie 50% uplift for me and 33% for my partner due to her age. we are happy with that, still a shock to be unemployed this late in life. im sure ill get used to it.


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## Andy from Sandy

What is your official retirement age, 66 or 67?

At 66 you have 11 years to go. For some a working life is 40 years so you still have a quarter to go. I wouldn't call your age "late in life".

Sorry for the bad news, not very nice at this time of year.

For some it is an opportunity to start something completely new.


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## c87reed

I suppose the positive here is that you have been given the redundancy payments. I was made redundant years ago and I was one of the earlier and luckier ones. My colleagues that remained employed were left without anything following the company’s administration, having worked lots of overtime - they had to claim from the government due to the company’s million pound worth of debt. The MD basically stripped the company of its assets and moved the valuable contracts over to a sister company.


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## za.64

I was going to retire at 60 as I have a good lgps pension, ive just found out that the company have also agreed to top up my pension (costing them thousands over the next 5 yrs) as my 55th birthday falls in the garden leave. so my pension lump sum will be tax free instead of 48% tax if they didn't agree to it. my lgps rep has confirmed it. so all is good.


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## andy__d

sucks to be handed the "letter" 
(been there 3times before 30! and once more before 40, so dont get a job at the same firm as me !) 
Thank the sprouts they have done right by you with the redundancy payments to you both, and Fair play on the pension being sorted as well
sucks they made you both redundant ,small consolation it Seems you both worked for one of the Decent firms that are left these days.

Relax (if at all possible) over xmas and the early part of the new year, and see what you both feel like or fancy at the end of feb / garden leave .


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## wayne451

za.64 said:


> after nearly 39 years working for the same company, and my partner who worked with me for 21 years have both been made redundant. not a nice feeling as we have 2 young children and a mortgage. so close to being able to claim my pension (55 in feb).
> alan


When did you get notified? Enter in to the consultation/appeal process as it is very easy to stretch it to Feb if you have a clever rep (assuming you're in a Union?) Consultation period alone will likely see you there (can vary).

It may not be as bad as you feel if you're on a final salary pension scheme but will depend on your accrual rate, annual salary etc. You could also be looking at a lump sum. You could also, assuming you actually want to retire, look at 'levellers' which drops your current payout on the basis that it 'smooths out' the transition once you hit pension age.


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## davies20

Sorry to hear your news.

I may be wrong but it sounds like you've come away from it not too bad at all. At least you'll have plenty of time to clean the car :lol:

p.s. Would I be right in thinking the company you work(ed) for starts with a T?


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## WHIZZER

Sorry to hear this - I do hope you can defer the date


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## phillipnoke

I was made redundant twice in one year


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## za.64

wayne451 said:


> When did you get notified? Enter in to the consultation/appeal process as it is very easy to stretch it to Feb if you have a clever rep (assuming you're in a Union?) Consultation period alone will likely see you there (can vary).
> 
> It may not be as bad as you feel if you're on a final salary pension scheme but will depend on your accrual rate, annual salary etc. You could also be looking at a lump sum. You could also, assuming you actually want to retire, look at 'levellers' which drops your current payout on the basis that it 'smooths out' the transition once you hit pension age.


its all sorted now,all money owed to us is in our bank. I got 20 weeks plus 50% uplift and 3 weeks annual leave that I had left inc bank holidays and birthday gift day,pension is sorted so I will get tax free lump sum and some income from march. all is good


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## za.64

davies20 said:


> Sorry to hear your news.
> 
> I may be wrong but it sounds like you've come away from it not too bad at all. At least you'll have plenty of time to clean the car :lol:
> 
> p.s. Would I be right in thinking the company you work(ed) for starts with a T?


nope it begins with an o


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## djberney

It's never nice to feel you're not wanted, but at least it sounds like the financial side is not too bad.
I'm due to get made redundant early in the new year but I've only been there just over 2 years so won't get much of a pay off. It's happened to me twice before so I know the drill, but still not nice.
Good luck with your early retirement. My wife suggested I take up watercolour painting, or 'emulsioning the dining room' as she put it.
Have a good Christmas and new year all.


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## SteveTDCi

It sounds like you have come out of it quite well, you planned on retiring early, you have had your pension topped up and you got paid out a decent redundancy package not the normal statutory payment.

Given your on garden leave you can effectively take the next few months off being paid and it will give you an idea of how retired life will be. 

Everyone should retire early and enjoy life, why people want to work until they are 70 and knackered i will never know.


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## Captain Duff

Don't forget that you can both also claim non-means tested Jobseekers Allowance (or Universal Credit depending on the roll-out in your area) from the day after redundancy. DWP don't distinguish between compulsory or voluntary redundancy, and as you have been working for the past two full tax years your benefit will notr take account of savings (or the redundancy lump sum) for the first 26 weeks of the claim (so think of it as your insurance policy paying out, which it is). You should claim this from the first day after the end of your employment (you can claim in advance) but don't delay as DWP don't backdate these days for late claims. There is also a little known thing called the 'permitted period' for the first 13 weeks of any JSA claim which allows you to only look for a job of similar pay and status to your last one for the first 13 weeks of the claim, depending on your outgoing job this can be very useful in taking some pressure off in terms of job search activity, but you need to raise it at the claim stage - https://www.gov.uk/jobseekers-allowance

Make sure you look at other things depending on things like your property status, i.e., if you rent claim housing benefit etc.


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## Soul boy 68

Sorry to read the news fella, all will be fine in the end like others on here I got made redundant years ago and I got through it. You can too.


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