I'm being let go (redundant) and have Dole question? Help please?

BennyBlanko

Hi,

Well, they are letting me go and paying me off.
It's ****........really, Mortgage,Loans,Childcare, dunno how the funk i'm going to cope.
My employers say that a redundancy payment will be paid to me taxfree to 10k and there is the option for me to apply to revenue for a further 10k tax free allowance on my redundancy.

Thing is the redundancy pay isn't going to last long with all the outgoings (and little hope of a new job soon) and I fear that if i apply for the further tax free relief, that when i go to sign on on the dole, They have it on their computers and I'll get declined the dole.

Does anyone know?
Also, I'm married, have 2 small kids - what will the dole be per week?


Thanks for any help and knowledge.

Ta,
B.

User21027

Dont know much about the subject but i think ur due 2 wks pay for every year worked for redundancy.But u must be there more than 2 yrs.
€10k is a lot more than most have, so try to be grateful for that.

The Welfare will ask u if u got redundancy, and u will have to make the choice to answer truthfully or not. My cousin told them she spent it, and brought in statements of empty bank accounts and she got all her benefits. She said she had home improvements to do, clear debts etc.

Being married, they will give you crap money if ur spouse works still. If they dont, you'll both get dole, but they'll take into consideration that the other is receiving benefits and ye'll get 1.5 times the dole- not double. Max €300 per wk i think. Good luck to you...

patpark121

Hi same things happening to me at present.
The company i'm working for is processing all the documentation for us.
The most important piece of paper is the RP50 form. This is the official application / notification of redundancy & is submitted to both the revenue & the social. This will not hinder any chance you have of claiming what i believe is now called "job seekers allowance".
Your employer should give you this form to fill in or you can download it yourself.. You get a copy & he submits the original - employers do claim a rebate of approx 60% of any redundancy payout.

If you haven't received a redundany payment in the last 5 years, statuatory redundancy (2wks per year of service) is tax free - up to a ceiling of €600 pw. Any other payment ontop of this (ex gratia), and i am open to correction - is depending on your threshold limit taxable, but at what limit i'm not quite sure.
Your accounts department or Hr officer should know the answers to this.

I know a freind who was made redundant, after he received his payment he transferred his credits to the wife. He had to register with FAS before drawing his entitlement, but he's getting i think about €180 pw + whatever for a 19.5 hr course pw.

delop

Man thats crap, sorry to hear it, If I were you Id stay away from the doom and gloom of the news untill you find another job...

Do you mind if I ask what industry you are in?

billy the squid

Contact your bank, your loans should be insured against redundancy.

Bluetonic

billy the squid wrote: »

Contact your bank, your loans should be insured against redundancy.

Bear in mind that this WILL affect your credit rating.