You get bugger all in my industry, just a months pay for every year I think.

It's only old school type industries and the public sector which offer silly redundancy packages.

 

Don't you work for a pseudo-public sector company anyway (i.e British Energy)? Bloody hypocrite.

Private industry which exists in the real world doesn't offer that sort of redundancy or benefits.

 

I work for a PRIVATE company ..... managed by 3 US Private Companies ..... it's about as Private as you can get!!

I was removed from the Civil Service nearly 20 years ago - surely I have paid my penalty ?

I have seen it from all sides now ..... prior to the Civil Service I worked for Private Companies, like Black & Decker for example.

Therefore no hypcrite!

 

I'm sure you have some legacy contract or something then. Privatised companies had to inherit the old cultures and agreements etc and these former nationalised companies were always 'old school' in the way there was unionisation etc.

There is no way a private company - existing in the real world - pays £30k a year for redundancy to technical staff.

I know this because I work for such a company. Management would rather bite their arms off than pay above the statuary minimum.

Former nationalised companies maybe where everyone had 'job for life' contacts.

 

It's not £30k a year .... it's a £30k Lump Sum at the front end.

THEN, an Annual Compensation Payment of £55k a year ......

 

The amount of time you spend on here interacting with the hoi polloi is somewhat at odds with your supposed personal circumstances.
One might ask why.
Or if.

 

Everyone needs relaxation time, entertainment and interaction.

SN is my playground ....... it fits in perfectly

 

Well that is even more ludicrous.

 

Redundancy is only good if you have something else lined up - unless you are pensionable of course.

I was 'lucky' 6 years ago. Out of one job, lump sum, straight into another.

Steve

 

The average redundancy payout is £17,926 in the public sector, £8,981 in the private and £7,629 in the voluntary sector, according to CIPD figures.

 

I'd say 55k per year until you are 60 is pretty damn good. You could virtually retire early.

 

As usual the public sector is way ahead.

 

I never thought I would see the day!

Les

 

Pedro,

If you are as old as you claim (clearly not ) then it's unlikely you'd get any redundancy payout anyway. They'll just ask you nicely to retire, perhaps with some sort of sweetener to encourage you.

 

There is no retirement age anymore ... they can make me an offer I cannot refuse, of course.

The £30,000 Lump Sum Tax Free would be that - the £55,000 is the Pension payment which happens to be the same as the ACP.

 

So why would your company make a redundancy offer that is so good they have people queuing up to take it?

Are management idiots?

It's obvious you work in the public sector or pseudo-public sector.

 

More likely to be in the private sector. My redundancy package was superb, a lot more than the laid down minimum.

Chip

 

Good?

Are you bonkers?

£30k is nothing these days as a Lump Sum - hell, it wouldn't even buy a new Impreza STi.

And as for the £55k a year pittance ... have you any idea how expensive it is to live in the upper 5% of the population? I can tell you - it ain't cheap!

 

Come off it Pete, it's massive for non-executives. Most people would easily be happy with that as £55k is way above the national average wage.

You're either in the public sector or in some industry still heavily unionised like air traffic or power generation, not in the real world at all.

 

£55k is a HUGE drop if you were earning double that!!

Let me help you get a feel for it ....

If you were on a low salary of £40,000 - and retired on £20,000, you have lost the buying power of £20,000.

If you were on £110,000 and retired on £55,000, you have lost the buying power of £55,000!!!

Can you see why it is actually a pittance? It is all a question of relatives.

At £55,000 a year I will be hurting far worse than someone on £20,000 pension as I have lost a far greater annual payment.

 

Yes but you don't have to work, or you could get another job doing something else.

It's a lot of money for doing nothing.

 

How would you feel if you had to take a drop of £55k a year?

EXACTLY!! It's the very same feeling.

And, remember that I have paid into the Pension fund at the rate of 8% a year (that's nearly £9k a year!) ... and the equivalent for 40 years back! So, I guess I am just getting back what I have paid in, at todays rates - that's fair!

 

Quality.....

 

It's many, many times better than the statutory minimum.

 

True, I don't deny that ......... it could be worse.

But, my point is, it's still bloody awful!

 

Ok so you earn a fortune, have been offered a very generous redundancy package. We get it. You are great.

 

I am I am

 

Pete talk bollocks part 370.

I bet pete doesnt even earn 55k a year now, or he wouldn't be such a tight ****

 

Why is it that people who struggle to make it in life think that rich people should spend all their money?

I can never figure it out ........... how do you think they got rich in the first place?

Never have I met a self-made wealthy person who wastes money!

 

This doesn't make sense, if you don't waste money why do you need double your £55k a year to keep you in the lifestyle you're used too?

Why would your buying power make a difference if you haven't wasted your salary for X amount of years? Is your house that big that it will cost you a fortune in stair-lifts and walk in baths?