The Redundancy Handbook (www.moneymadeclear.org.uk/redundancy)
The redundancy handbook aims to help you understand your rights, stay in control of your finances and move forward. It is produced by the Consumer Financial Education Body (CFEB) and is a useful information resource for those whose job is under threat of redundancy. The handbook covers questions from dealing with job worries and redundancy rights to managing money and the entitlements you can claim. It is compiled in handy sections that help you to think of the next steps when your job is not secure any longer.
The Handbook has sections on the following topics:
- Job worries - Things to consider now if you think your job might be at risk. Your rights if your employer suggests short-time working, lay-offs or changes to your contract.
- Redundancy rights - Checking your redundancy is fair, your rights to redundancy pay and how much you should get. Other redundancy rights and what to do about any pension you have built up with your employer.
- Next steps - Brushing up your CV and applying for new jobs, updating your skills and learning new ones, thinking about starting your own business.
- Managing money - Making the most of your redundancy pay, reviewing your budget (including a budget template to fill in), insurance and benefits you might be able to claim, organising your household money.
- Entitlements – Entitlements, National insurance credits to protect your entitlement to state pension. Your entitlement to jobseeker’s allowance, other state benefits and tax credits and how to claim.
- Your home - Schemes and benefits to help if you have problems paying your mortgage, what to do if you fall behind with your rent, tied accommodation and moving home because of work.
- Money worries - Keeping up with bills and loan repayments. Insurance, benefits and special tariffs that may help. What to do if debts become a problem and where to get advice.
- Early retirement - Things to consider if you are offered early retirement instead of redundancy, getting the best pension you can. What happens if you retire and then go back to work.
- Useful contacts - Where to find out more about the topics covered in this handbook, useful online tools and websites, where to get help and advice.