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Original poster

Would you take voluntary redundancy

32 replies

Gellhell · 13/09/2023 14:57

My place of work is offering voluntary redundancy with a 45 grand pay off.
I'm 46. I've been grinding away since I had my 2 DC's without any break and full time. I am tempted by it as I could pay off a loan I have, move house and be debt and mortgage free. But if I had to move for work it would recall disrupt my kids education.

Any thoughts much appreciated.

OP posts:
Original poster
Gellhell · 13/09/2023 14:58

Really not recall

OP posts:
AgnesX · 13/09/2023 15:00

For £45k ...in a heartbeat. My lot are as tight as a gnat's chuff though so no chance 😟

OneRingToRuleThemAll · 13/09/2023 15:01

I'd snap their arm off! We are statutory redundancy only so with 10 years service I would get £6k

Freelancefreedom · 13/09/2023 15:02

Will you need to work afterwards and how easy will it be to get another job with the right level of pay?

Moopyhereagain · 13/09/2023 15:02

It does sound like a handy opportunity. Is it hard to get other work in your sector? Why would moving disrupt eduction? Would they have to move schools? ( not a deal breaker if there are good other schools, people move all the time) living debt and mortgage free, possibly then able to work fewer hours might be a big lifestyle upgrade ? Which might benefit children? ( not that working long hours is necessarily a bad thing as far as kids are concerned) I’d be very tempted. Do you have a partner that has a view?

RedRobyn2021 · 13/09/2023 15:03

I did earlier this year, I got £18K so nowhere near as much as that. Tbh I've just used it to live off my DD is only 2 and I wanted to be at home with her until she turns 3 and can do a few days at pre-school.

I don't know how old you're children are but presume their older?

I would probably take it tbh as long as I thought i could get a similar paying job fairly easily

FreshStart12345 · 13/09/2023 15:06

I'd definitely take it. How about just using it to pay off loan and as much mortgage as possible so you don't have to move? Guess it depends how much you have left to pay but the idea of being completely debt free is so freeing

Cottagecheeseisnotcheese · 13/09/2023 15:07

sometimes you need a temporary break, you sdound on the verge of burnout. taking it paying off your debts for sure, then decide how long it will last. if you your debts are £5000 and you need £2000 a month to live it will last 20 months say 18 to be on the safe side. while you reconsider

also you could pay off debt then take 3 months off completely then decide whether you want to re train so you have a better job not necessarily paying more maybe better work life balance.

you could make sure you pay off debts , have an emergency fund of 6 months livings expenses then pay a decent chunk of mortgage off and maybe look at working 3-4 days a week where you currently live.

as you say you could move areas and by doing so are mortgage free which means you need to earn considerably less for the same standard of living:
it depends on ages of your children, moving before secondary school generally OK moving afterwards is a huge upheaval and should really only be done if absolutely necessary ( and sometimes it is)

45K is a good redundancy package and if you don't take it , you could be made redundant anyway in a few months with a much smaller package

hope it goes well, but you do need to consider your own physical and mental health first

Twiglets1 · 13/09/2023 15:08

Wouldn’t want to disrupt my kid’s education if they are in secondary school.

Would consider doing so in primary though for a big payout. If you think you can get another job equally well paid after taking a break.

Houseplantmad · 13/09/2023 15:08

Yea but don’t move if it’s so disruptive. Pay down the mortgage and then move when it’s a better time.

Whichwhatnow · 13/09/2023 15:17

I did, following a takeover for a little more than you've been offered (I was offered the choice of a higher paid role in the new company or the redundancy payout and went for the lump sum). It gave me a deposit for a house, allowed me to move and got me an amazing holiday (very much needed as at that point I had been working 60-80 hours a week working up to the takeover).

I was single and childfree though and jobs in my sector are relatively easy to come by. If I was in a very niche role I might have reconsidered... is that the case for you?

Luckydip1 · 13/09/2023 15:19

I wouldn't unless you have a new job lined up, too risky.

Chewbecca · 13/09/2023 15:20

It depends on so many things.

What are your income needs over the next 5-10 years?
How will you meet those? Will you seek alternative employment? Are many jobs advertised in your field currently? Is the pay as good as you're currently on? How about conditions? Are you enjoying your job / employer?

(I have taken redundancy once in the past & it was a good move for me).

MinnieMouse0 · 13/09/2023 15:22

Yes I would take it! If you wait you might just end up with statutory.

Bromptotoo · 13/09/2023 15:28

That's a pretty good offer on face. Before leaping though, make sure you understand exactly how the money is made up - redundancy, pay in lieu of notice etc and how much tax you'll need to pay.

As others have said you'll also need to have a plan for how you earn money after you've gone. It may be you've got contacts in your industry and know you can walk into something. OTOH plenty of people leave work, redundant or not, and for reasons x, y or z take a long time to find something.

At 46 you shouldn't be caught by employers ruling you out as too old but don't rely on it!! Are there areas you might want to work in. Some volunteer roles are an excellent stepping stone onto the organisation's staff. Personal experience with Citizens Advice is but one example.

KievLoverTwo · 13/09/2023 15:53

t would recall disrupt my kids education.

move house and

It depends on just how much it's going to disrupt their education.

My mum moved me just before the end of primary school - six months beforehand - then again six months before I took my GCSEs, which meant I couldn't even qualify to be entered for 40, maybe 60% of them (different counties, you needed 40% of it to be local coursework which I didn't even quality for, or something to that effect).

It meant I walked away with four really crappy GCSEs when I was in line to get maybe nine moderately okay ones (I won't lie and pretend to be a wunderkid!).

More than thirty years later and I still think that was a shitty decision. She's now dead so I never got to have the 'why didn't you value my educational stability' with her. My sister was 15 when we moved the first time and I know she absolutely resented the decision mum made back then too. In fact she was fuming beyond belief and moved out of the house the same year - when she was still 15. Time hasn't mellowed how she felt about that move.

Original poster
Gellhell · 14/09/2023 09:05

@KievLoverTwo thats what I am worried about to be honest.

The DC's are in years 3 and 7.

We would have to move about 70 miles to live in a house that we have with a small mortgage and by selling the house we are in we could pay that off. So we would end up in a bigger mortgage free house but at a big disruption to the children.

OP posts:
KievLoverTwo · 14/09/2023 09:12

Gellhell · 14/09/2023 09:05

@KievLoverTwo thats what I am worried about to be honest.

The DC's are in years 3 and 7.

We would have to move about 70 miles to live in a house that we have with a small mortgage and by selling the house we are in we could pay that off. So we would end up in a bigger mortgage free house but at a big disruption to the children.

Year 3 should be fine but year 7 a bit more tricky, because friendship groups have already formed by then (or have they literally just started? Maybe less so if you are quick).

I don't think you risk wrecking their education at those ages, but your 11 year old may hate you for a while.

Part of the problem for us was the timing. Because everyone had formed friendship groups years ago and there was only six months of school left, nobody was really interested in making new ones. What it did to our education was just the shitty cherry on top.

You know you kids best. The young one will recover. You need to make a call on the older one, maybe discuss it with them.

Coolblur · 14/09/2023 09:19

No because I'd almost certainly have to move to get a job that pays similar to mine and that would be too disruptive to our lives. But if you could get another job you would like with a similar salary local to you then yes, go for it.

orangegato · 14/09/2023 09:20

AgnesX · 13/09/2023 15:00

For £45k ...in a heartbeat. My lot are as tight as a gnat's chuff though so no chance 😟

This made me smile.

DinnaeFashYersel · 14/09/2023 09:20

Definitely

Twiglets1 · 14/09/2023 09:58

KievLoverTwo · 13/09/2023 15:53

t would recall disrupt my kids education.

move house and

It depends on just how much it's going to disrupt their education.

My mum moved me just before the end of primary school - six months beforehand - then again six months before I took my GCSEs, which meant I couldn't even qualify to be entered for 40, maybe 60% of them (different counties, you needed 40% of it to be local coursework which I didn't even quality for, or something to that effect).

It meant I walked away with four really crappy GCSEs when I was in line to get maybe nine moderately okay ones (I won't lie and pretend to be a wunderkid!).

More than thirty years later and I still think that was a shitty decision. She's now dead so I never got to have the 'why didn't you value my educational stability' with her. My sister was 15 when we moved the first time and I know she absolutely resented the decision mum made back then too. In fact she was fuming beyond belief and moved out of the house the same year - when she was still 15. Time hasn't mellowed how she felt about that move.

That was a very shitty decision of your mums.

Sorry, I know from personal experience how conflicted it can feel as an adult when you love a parent but can’t make peace internally with certain ways they acted when you were dependent on them. It’s so tough, especially after they have died.

Doingmybest12 · 14/09/2023 10:03

I'm not really understanding. Why do you need to move 70 miles away. Do you want to move area?

MidgesGirdle · 14/09/2023 10:05

No question I'd do it if it meant I was debt free. That gives you so many options work-wise.

KievLoverTwo · 14/09/2023 10:05

Twiglets1 · 14/09/2023 09:58

That was a very shitty decision of your mums.

Sorry, I know from personal experience how conflicted it can feel as an adult when you love a parent but can’t make peace internally with certain ways they acted when you were dependent on them. It’s so tough, especially after they have died.

Show quote history

I am at peace with it. She came from an era where everyone in the family put themselves first. Her and her seven siblings all did the same, because it's what they saw their parents do. Kids were seen as a minor inconvenience who needed to put up and shut up. Only one of those siblings had ever really broke the mould, and that's because she was the youngest.

So, I understand - it's wrong, but I understand. And we had a fantastic relationship for her last ten years of life.

Thanks for the kind words though.

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