Redundancy

auntie-bertie | 09:31 Tue 28th Apr 2015 | Business & Finance

14 Answers

If you are made redundant, and receive a redundancy payment, are you able to sign onto the dole?

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ummmm

Depends how much you were paid out. It might have changed but anything 6k and under in the bank doesn't have to be declared. Over 6 goes on a sliding scale. Over 16k and you can't claim anything.

Cloverjo

As far as I know, if you have less than £16,000 pounds you can sign on for Job Seekers' Allowance.

tonyav

Even if your over 16k signing on will get your national insurance stamps ( or whatever it's called these days ) paid.

ummmm

Tony is correct. Signing gets your NI paid and it also fills in any work gaps.

hc4361

You will be entitled to contributory JSA which is not means tested.

http://www.turn2us.org.uk/information__resources/useful_tools/jargon_buster/non_means-tested_benefits.aspx

Old_Geezer

Purely out of curiosity, is it purely related to the redundancy payoff or is that a limit for any money owned/saved at the time of trying to claim dole ? Is it £16k in a current account at your bank, or £16k in total savings anywhere ? (Or even £16k in possessions ?)

hc4361

£16k in savings anywhere, including Premium Bonds, ISAS and redundancy pay outs.

Old_Geezer

Hmm. Thanks. I'm likely to be on my own resources later on then. Still, what's new ?

auntiebertie

Thanks. Yet again, it looks like those who have paid into the system for 20+ years can get nothing out of it!

BRIGHT SPARK

JSA is not means tested..however if the redundancy payment included any payments in lieu of notice then you cant sign on until the end of the notice period....I think?

CheekyChops

Contributions based JSA is not means tested and is paid for 26 weeks, as long as you have paid enough NI contributions in the qualifying period.

After this, income based JSA would apply which IS means tested. Any savings over £16,000 or a partner who earns a reasonable wage will prevent you from getting this.