Would you walk from your role for a year's salary settlement deal?

[UndoRedo]

Workplace relations have broken down, and my employer has opened up the conversation regarding a settlement agreement, with pay out and reference. I'm early 50s, been there almost two decades.

Would you take the money and run? I have a niche role, but there are other roles out there and consultancy opportunities. But as a single person with a mortgage, it is a risk!

OP - I had almost the exact situation this time last year but in the private sector and I'm in my mid-40s.

Relationship breakdown due to new manager, who unnecessarily put me on an informal pip (my previous manager said it wasn't warranted). It was clear that my new manager wanted me out and the whole situation was unbearable , leading to burnout and I went off sick. 6 weeks later I was offered a settlement package that I gladly took. Didn't have the headspace to barter nor did I want to return to that organisation especially as my manager said that the pip would be made formal in spite of me still being off sick.

Took the money, had the summer off but had started looking for another job around that time. Got a 12 month fixed term contract in HE, which is an area that I had considered moving into. Fingers crossed I'll find something permanent in that sector but taking the settlement gave me the breathing space I needed plus I was able to use the funds (along with some savings) to pay off the mortgage.

I’d personally take legal advice about your situation. Good luck!

I'll be taking legal advice definitely. Unfortunately my mortgage is still quite large, although if I move to Scotland I'd be ok 🤣

It is possible, some places do (genuine, or not) redundancy through settlements or the company will opt to cover the tax (usually less likely).

Depends on the reason stated for leaving in the paperwork. Settlement does not necessarily = tax free is my point.