Redundancy Questions

S

sparky

Guest
Hi there,

I have discovered that I am 1 of several people to be let to from my employer (company financial problems apparently, so 50% are gone) Apart from the shock and panic feeling that is setting in, I really don't know whats involved or what I am entitled to (if anything). All advise welcome!

I heardsomething about 2 years being the required employment time for redundacy. I am there about 1.5 years, so I don't know if this makes a difference.
Can I sign on in the short term if I need to?
I am a joint mortgage owner with partner, but am worried paying my share now - is there anything I can do here if I need to?

Thanks in advance.

Sparky
 
Sorry to hear about your situation but try not to panic unnecessarily. I know from experience that redundancy isn't necessarily the end of the world and can, in fact, be a blessing in disguise in some situations even if it doesn't seem like it right now...

These links might be of use to you but post more details and questions here if necessary. Also contact the DETE directly for advice on your statutory and other rights as they are extremely helpful in these matters (they also have an online redundancy calculator which might be of use in calculating your statutory redundancy payment entitlements - don't forget that some employers will also make non statutory redundancy payments as well). If you are unemployed for a period of time after redundancy then you will may be entitled to claim Unemployment Benefit (PRSI related) or Unemployment Assistance (means tested) and maybe some of your tax back that was paid for the current year as your tax credits for the year remain unused (see the Revenue Form P50 link included in the last topic below).

www.entemp.ie/
 
Redundency

Unfortunately you need 104 weeks i.e. 2 years to qualify
 
Re: Redundency - Just to clarify

The 104 relates to Statutary Redundency. Any employer renumeration package is up to the employer.
 
Try not to stress

I too know from experience that this does not have to be the end of the world. Myself and my husband were made redundant within 5 weeks of each other last year - both from middle management positions. I secured a new and significantly better job within about a month. It took my husband a bit longer - but he was able to be choosy as we did not have financial pressure. We are now in a position to look back and say that it wasn't the end of the world, that in fact because we had to re-evaluate our life, our spending, our financial security for the future [or rather lack of], we in fact learned a huge life lesson and have emerged stronger and more secure as a result. In fact I know now that if I lost my job tomorrow I would not crumble - I would honestly see it as an opportunity to move on to something exciting. I had been a long time in my previous job - too long - and was becoming stale.
I hope things work out for you and that you find an exciting new challenge.
 
Redundancy

Sorry to hear your news.

Holidays due from last year are not a payment an employer is obliged to make.. things like this can qualify for 'tax free lump sum'.

Dominic
 
Redundancy Questions??

thanks for all your advise and information. Things are still hanging in the balance for the moment i.e. we have not yet been made redundant yet, but it is pending some possible rescue plan.

Regardless, the panic has faded somewhat and its onwards and upwards now.

Thanks again,

Sparky
 
Holidays due from last year

Dominic (or anyone else),

I have been made redundant recently and I have approx 2 weeks brought forward from prior years and I am very curious about your quote

"Holidays due from last year are not a payment an employer is obliged to make.. things like this can qualify for 'tax free lump sum'."

HR (who are unlikely to be tax experts)have informed me that this will be going through normal payroll and cannot form part of the tax free lump sum,how can I argue for this to be included in the lump sum?
 
Re: Holidays due from last year

nojob,

I was made redundant 2 years ago, and I received payment for holidays due and payment in lieu of notice as part of my tax-free settlement (ie tax-free up to revenue limits).

I'd suggest that decisions re taxation are not for your HR dept to make, but for Revenue. If you are taxed on this in your payroll, contact revenue for clarification and you will be refunded any tax you have overpaid. Revenue aren't there to con you, if you're due it back, you'll get it back.

One caveat though, the redundancy law changed since I went through my redundancy, although I believe these changes were to the benefit of employees so I wouldn't expect a problem there.

Good luck with it!
 
Re: Redundancy Questions??

hi there,
just question my husband has been made redundant recently and i have applied online for the redundancy he has asked his boss to sign the RF50 form and he wont sign it just wondering what happens now? he has been working there for over 6 years
 
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