What’s a good offer for Voluntary Redundancy?

[Ccoffee217]

Hi all,
Has anyone else out there ever been offered Voluntary Redundancy? I’m currently “at risk” with 20 others and we’ve all heard on the grape vine that we might be offered VR with a week and a half’s pay per year of service. Bearing in mind that statutory pay is 1 week per year’s service I’m trying to work out if this is good or not?
Thanks!

I wouldn’t consider 1.5 weeks per year a good enough offer for me to take VR, but I’m in a sector where VR is very very rare (no compulsory redundancy contract and VR only used as a last resort) so I’ve known VR offers upwards of 4 weeks per year. I suppose that’s the two questions for you to answer for yourself is would the offer be enough to see you through till a new job and what’s the ‘normal’ level of VR for your line of work?

How old are you? It's 1.5 weeks per year of service once you hit 40....

Depends entirely on how easy/difficult you imagine getting a new job might be.

@wannabebetter

How old are you? It's 1.5 weeks per year of service once you hit 40....

service over the age of 40-not service in total

I got 1.4% of what statutory redundancy would have been. Pretty rubbish, but the company were being awful and I knew I didn’t want to stay.

I just got 1.5 weeks as compulsory cos I'm old, but capped at 500something per week. If the offer is at full pay ( ie not capped) it might be a good offer.
It might not be great but it it's still better than compulsory.
Only you have the info to work this out and what you need.
How they're making the decision to select people might also play into this too.

I got 3.5 years ago. I think 'good' depends on how it works for you. Everyone is different