Anyone know anything about First Actives Redundancy Package?

soretoe

Just wonderin coz I work in another Fin Inst and if we head down the same road I just wanna know what to expect......number of wks per year etc..

unclebill98

soretoe wrote: »

Just wonderin coz I work in another Fin Inst and if we head down the same road I just wanna know what to expect......number of wks per year etc..

Well I'm away on hols but heard its 6 or 8 weeks per year worked and there is a lump sum for re-training. From what I've been hearing its a very good offer. Its open to UB and FA staff.

Trying to find out what the Tax/PAYE are on it cause its a tempting offer

soretoe

cheers - I read 7.5. wks per yr on some forum. What does that mean lump sum for retraining - dya mean for going to college/night course to learn some new skill after person X gets made redundant ? That sounds good/smart - hope my outift do somethin like that coz I'll only be there 2.5 yrs by the time they start throwing us out - so a lump sum on top of say 7 wks per yr would come in handy to sign up on a course and skill up so as to get back out there ASAP (which at present looks bleak but ya gotta be optomistic eh?)

rameire

unclebill98 wrote: »

Well I'm away on hols but heard its 6 or 8 weeks per year worked and there is a lump sum for re-training. From what I've been hearing its a very good offer. Its open to UB and FA staff.

Trying to find out what the Tax/PAYE are on it cause its a tempting offer

7.25 wks per yr max 3 years (156 wks)
8k training grant and keep staff mtg

or 8 wks per yr max 2.5 yrs (130wks)

unclebill98

rameire wrote: »

7.25 wks per yr max 3 years (156 wks)
8k training grant and keep staff mtg

or 8 wks per yr max 2.5 yrs (130wks)

Hi rameire,

I take it your getting that info from the inside. Can't believe the've capped it at a max of 3 years. There not going to get the up take there hoping for with that.

Thanks for that.

rameire

i think there is a thing around the pensionable people, that they will not get full entitlement or something, not really sure, but id say the redundancy package will be changed slightly to make it more entising to the people who are there a long time and for the people on the fa contracts.

unclebill98

Ok, I heard there was a calculator that you can use. Does it show the tax element of the package?

Keeping your staff mortgage is a very good point as long as its not got a time limit.

soretoe

what is the training grant- is that just a tax smart way of giving everyone a lump sum sweetener to entice more people ?

BuffyBot

Outside the remit of this forum, really.