Yes rhian, life’s too short to get too old to enjoy things I’m quite surprised by just how big my pensions are…if I draw the whole lot, I will be in the higher tax bracket :shock:
It’s quite surprising how things work out, there’s me thinking my pension is worth jack, when I can take a large lump sum right now, your turn will come mate, hang in there…
Thanks Primus, I will 
I was surprised too how much it’s worth, obviously after 25% the tax man grabs some but I’m not bothered because it’s worth taking out as much as I need to do up the house and pay everything off rather than scrimp an save later on when I’m no longer working. It’s all looking good and I can’t wait until October to get this enormous weight off my mind.
I too was TUPE’d over when the huge IT dept I worked for was outsourced. We had very good Ts&Cs so TUPE was good.
If I had decided to simply up sticks and quit I would have lost out hugely. Towards the final 3-4 years there I really had had enough of the imbeciles in management who were useless. But I stuck it out because I knew my terms were good. Eventually they wanted to do a huge round of redundancies and so were obliged to first ask for volunteers.
At that point I enquired what it would be worth to me as a pay-off and it was very significant. Let’s say between £50,000 and £100,000 was what they had to pay me for voluntary redundancy. All benefits I had earned through long loyal service. If I had simply quit, I would have gotten nothing. So I walked away with a big pay-off and a great pension and never looked back.
So all I am saying is don’t throw that kind of money away. Depends how many years you have worked there of course.
Well with continuation of service it will be 30 years, but I doubt they would pay me off, they’re all about profit, but we live in hope as they say, and if it were offered I’d bite their arm off, if I can wait until next year, I’ll get an extra 20k on one of my pensions, I’ll just have to see, I just want out and this is a way,
Wow ok, 30 years is around what I had. You’d be mad to give up that kind of pay-off imho. Understand, THEY HAVE to pay you that money IF you are made redundant. It’s the law. Even the UK minimum redundancy is worth something but I’m sensing that like me your TUPE’s Ts&Cs will involve some “proper” redundancy payments.
This is the UK minimum “Statutory Redundancy Pay”
Employees get:
• 1.5 weeks’ pay for each full year of employment after their 41st birthday
• a week’s pay for each full year of employment after their 22nd birthday
• half a week’s pay for each full year of employment up to their 22nd birthday
Length of service is capped at 20 years and weekly pay is capped at £525. The maximum amount of statutory redundancy pay is £15,750.
Defo worth investigating what they would have to pay you and defo worth asking if they would like you to go VR route.
Congratulations
Thing is realist, I signed one of their contracts, a few months after they took over, at the time I didn’t think I’d still be with them, nice as it would be to get any sort of payout, there’s no sign of any redundancies on the horizon, I wish there was…
What kind of contract? Were’nt you TUPE’d from previous company? You didn’t sign away those terms did you?
Not sure , I probably did, would have to check the, contract, although isn’t their something about TUPE being valid even years later, even if you sign a contact that is deemed detrimental?
You will never look back I am semi retired now and totally loving life the ability to walk away when stress/systems/procedures get too much is a big “take a breath” way of looking at life it does not mean you will walk away it means you could you CHOOSE to stay rather than having too…the Ability to walk away is sometimes all you need to continue.
The feeling of being trapped is not good for peoples state of mind.
Do you know kazz, that’s exactly lt, knowing I have a way out and can choose to stay or go , has somehow lifted the burden if you know what I mean,
Exactly