Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Redundancy?

  • 07-06-2007 10:10am
    #1
    slemons
    Closed Accounts Posts: 532 ✭✭✭


    My stupid company just made me redundant along with a load of others.
    Can anyone advise me what to looks out for or tips in case they try screw me?
    Ive only been here 5 months but i had pension with contribution, vhi, approx 10 days hols.

    Help a 23 year old out??


Comments

  • #2
    digitally-yours
    Registered Users, Registered Users 2 Posts: 1,425 ✭✭✭digitally-yours


    Not A good news if you were happy with the job

    I would say just make sure all communication goes in WRITING
    so they cannot backtrack from anything they said now !

    Apart from that i would say Look forward and keep hopes high.

    What sort of job u were doing ? if u dont mind mentioning


  • #3
    slemons
    Closed Accounts Posts: 532 ✭✭✭slemons


    cheers for that.
    id rather not say at the moment.

    Thanks for your help!


  • #4
    The Novacastrian
    Closed Accounts Posts: 198 ✭✭The Novacastrian


    hi

    I think the only thing you will be entitled to is your holidays as redundancy only kicks in after 2 years, and pension may be 1 year.

    Look up entemp.ie, should get all info there or

    http://www.citizensinformation.ie

    hope something comes up for you


  • #5
    Newaglish
    Registered Users, Registered Users 2 Posts: 2,734 ✭✭✭Newaglish


    They can't really screw you because you're not exactly entitled to a whole lot unfortunately. Basically you are entitled to:

    No statutory redundancy (Only 2+ years)
    One weeks written notice (Unless higher in your contract - if you don't get this they owe you 1 week's wages)
    Pay for whatever holidays you've worked up

    I don't really deal with pensions so I'm not actually sure if you're entitled to a refund or anything, it probably depends if it's a work scheme or not. I'm sure you can probably just transfer it over.

    Best of luck in the future!

    Oh and yes, get everything in writing. And be nice to the liquidator! Only doing their job.


  • #6
    slemons
    Closed Accounts Posts: 532 ✭✭✭slemons


    thanks for the help.
    well i got it all sorted anyway but i have a question now about my wages and what to do with it.
    The accountant said to me that it was possible to put as much of my taxable income as possible into my pension thru voluntary avc's and that in effect it would not cost as much as it normally should due to the fact that it isnt taxed. But this has me confused. Does anyone know anything about this?


  • Advertisement
  • #7
    Newaglish
    Registered Users, Registered Users 2 Posts: 2,734 ✭✭✭Newaglish


    Money deducted from your wages directly into your pension is deducted from your taxable income when calculating your overall tax payable (up to a certain limit).

    Additionally, if you want to put more money into your pension, you can make an "Annual Voluntary Contribution", which is a contribution on top of your normaly weekly/monthly deductions. In total, you can put 15% of your wages per annum (through deductons and AVCs) into your pension and deduct that amount from your tax.

    For example, if you earn €25,000 per annum, and you put €1,500 into your pension via deductions and make an extra €500 AVC, your tax payable for the year is:

    €25,000 - €2,000 = €23,000 @ 20% = €4,600 (less credits etc.)

    What the accountant is trying to say is that you are effectively getting a discount by making an AVC because by putting €100 into your pension, you're paying €20 less tax (or €41 if you're on the higher rate!).


Advertisement