UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies. Hide this message. Guidance Being made redundant: finding work, claiming benefits and managing debts. English Cymraeg. Print this page. Brexit Check what you need to do. Explore the topic Benefits and financial support if you're looking for work Redundancies, dismissals and disciplinaries. Is this page useful?
Maybe Yes this page is useful No this page is not useful. Thank you for your feedback. Report a problem with this page. What were you doing? What went wrong? Although you have volunteered for redundancy there was still the need to make redundancies by your employer, so in most cases it will be treated the same. You sound like you would benefit from being able to claim some benefits and this is exactly what you should do.
Even if you are not eligible for contributions based you will be eligible for incomes based. You may also be eligible for housing and council tax benefit if you are in dire straits with your finances and cannot meet your rental payments.
Problems often arise when employees opt for voluntary redundancy and receive a substantial payout. If you are considering retiring or giving up work altogether your voluntary redundancy decision will not impact this but you will have to prove to the government that you are unable to work in order to claim any benefits.
If you plan to retire your voluntary redundancy package may be taxable if you do not plan to work again. This is not necessarily because you have chosen to take voluntary redundancy but it could be because of the impact voluntary redundancy has. Also if you are planning to use your voluntary redundancy money towards retirement it will be taxable.
If you are financially well off then it is unlikely that you will qualify for any other benefits even if you are facing retirement.
Voluntary redundancy will in most circumstances be classed as any other type of redundancy when it comes to claiming benefits. You should be able to start claiming benefits from the day you are made redundant.
What you need to take into consideration is that voluntary redundancy will often result in a heftier payout which could make you financially better off, which in turn could limit the benefits that are available to you.
Have a glance at our case study about what happened after one reader took voluntary redundancy. This website is for sale [more info]. Previous Page. Next Page. You might also like A Guide to the Redundancy Process.
How Redundancy Affects Pregnant Women. Hi, I am thinking about asking my employer to be made redundant I want to move into a completely different job that is not 9 to 5 office based However, I am wary to do this as I am not sure what I will be able to claim for if I do I am a private renter, and have council tax and the usual other household bills to pay Any help would be appreciated I like to no that I got voluntary redundancy more than I have work more than 36 years National issuarns class A.
Hi if I take voluntary redundancy from my company what can I claim any benefits. Please do reply a. Thank you ps I am on national minimum wage on 40 hrs per weeks.
Th Surgerai - Aug PM. Thank you very much Surgerai - Aug PM. My employers head company wants me to take voluntary redundancy. All my answers to the above questions were "A" but on 3 I answered C since I and still able to work. Should I accept voluntary redundancy? Thank You. Kattis - Aug PM. Thecompany I work for are making people redundant. Where I work, we have all been advised we are 'At Risk of Redundancy'.
They are going through thecorrect procedures of choosing who this will affect. I am 2 years away from Retirement. Obviously, other younger staff want to keep their jobs. I had intended continuing to work for at least another 2 years past Retirement in November Everyday money.
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Tool Find a retirement adviser. Calculator Redundancy pay calculator. Home Work Losing your job. Losing your job. Voluntary redundancy. Make a budget Search the job market. Can you afford to take voluntary redundancy?
Confirm your redundancy settlement. Make sure you get a redundancy settlement figure in writing from your employer. Are you insured if you take voluntary redundancy? Check the small print. What benefits are you entitled to if you take voluntary redundancy? To find out what you might be entitled to, use a benefit calculator on the GOV.
UK website. You can also make a claim for these benefits online through the GOV. Find the one closest to you on the nidirect website. Back to top. Make a budget. Join our Facebook group. Search the job market. Check out the current job market on the GOV. Find out more in our guides: Changing your career following redundancy How to start a business or become self-employed. Was this information useful? Yes No. Thank you for your feedback. Share this article. Email Facebook Twitter.
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