I've just started an unpaid career break (from 3/9) after a year's maternity leave.
Looks like I'm like I'm going to be offered voluntary redundancy (which if I get offered what I think it should be I'd seriously consider) and I've been told that in addition to the contractual redundancy package I'll get 6 months pay in lieu of notice (PILON)
Should the PILON period count as reckonable service for my occupational pension scheme? I've checked my terms of employment & the only reference to PILON is that they "may opt to pay it" instead of making you work your notice in a redundancy situation.
I've done a bit of research myself & it's all along the lines of (from Business link)
"A PILON should cover salary - including any bonus required under their contract - until the end of the notice period together with the cash equivalent of benefits in kind, unless their contract says otherwise"
I can't find anything that specifically covers pension stuff, but logic says PILON should put you in the same position as if you had worked your notice (unless contract says otherwise), therefore should count for pension purposes & they should deduct my contribution from it?
It would be great if it did count, because after 8 years of crap (collective bargaining) pay rises we actually got decent ones for the past 2 years, so I'd rather like my pensionable pay to be based on a higher amount
Thinking about it, what happens to holiday entitlement and PILON as well?
thanks for reading this far & any light you can shed
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Redundancy - PILON
2 replies
BetsyBoop · 22/09/2008 20:42
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