Redundancy Pay and Benefit Entitlement

Discussion in 'General Chat' started by Goooner, Feb 27, 2013.

  1. Goooner

    Goooner
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    There's a very good chance that I'm going to be made redundant at the end of March, if another position in a different branch of the compamy doesn't materialise in the meantime.

    I've been checking out what benefits I may or may not be entitled to, if the worst comes to the worst. £16,000 capital or savings being taken into account is mentioned a lot.

    I just wondered is a redundancy payment regarded as capital? If it is and I get more than £16000, I assume this would only apply until such a time as it's dropped below that?

    I currently also work part time 10 hours a week as does my wife, so I'm assuming this will be taken into account as well.

    Hopefully I'm not going to be out of work for long, having worked since leaving school 30 years ago, I think I'd go nuts pretty quickly sat at home all day, every day :D

    By my very rough calculations, with the redundancy pay I've worked out, if I carry on in the style to which I've become accustomed, it should last me around a year, so long as I trim some expenses and don't go mad, if I am entitled to any sort of benefits, jobseekers, maybe council tax benefit? it will hopefull last a little longer, obviously I hope I'll get a job straight away, but I know how tough it is out there at the moment, so need to be realistic I suppose.
     
    Last edited: Feb 27, 2013
  2. overkill

    overkill
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