WWYD? (Hypothetical)

[OhNoMyCheds]

Okay, here’s your situation:

• You have been put at risk of redundancy (chances of being made redundant: high)
• you secure a new EXTERNAL role and are given a decent severance package
• you don’t have any real savings to speak of

Do you:
A) use the money on projects you’ve been putting off for a while (maybe a new bathroom)

B) go on holiday/ treat yourself/your family

C) lock the money into an ISA/savings account for a rainy day

This was a few years ago but I was made redundant and was not allowed to start a new job until the consultation + notice period were done. Combined that was 6 weeks (2 weeks consultation plus 4 weeks notice I think) but I got to stay home on full pay and it was summer and my new job were happy to wait so it worked out very well!

OP, I’d take the new role but take advice and check when you can start so you don’t jeopardise your package- my former employer paid for me to see a solicitor as I think is legally required? Then I’d probably do a combo of B and C - maybe a mini break then rest into savings.

In what circumstances will the four-week rule be triggered?

The four-week rule will be triggered and, therefore entitlement to a redundancy payment may be lost, where:

the same employer or another employer listed in the Redundancy Payment (Local Government) (Modification) Order 1999 (as amended) offers a redundant employee a ‘suitable’ job before their existing employment terminates, and
the employee accepts the new job which starts within four weeks of the termination of their existing job.

I believe the 4 week rule applies to local authorities, schools, some Unis etc

That only applies to schools, education, local authorities or the same employer. If it's somewhere completely different you can start ASAP.

The sensible voice in my head says C. But in reality, I'd do A.

Good to know! I’ve told potential employers I’ve got two months notice anyway(which was consultation + notice)