05
Jun
2016
A question about : Redundancy and benefits
Hi - I'm hoping for a little advice around benefits.
I've been made redundant, but the one bit of confusion for me is around benefits.
I'm getting pay in lieu of notice.
My question is - I assume that they need to pay my pension contributions for the notice period - is that into my pension or as a cash payment?
Do they have to do that for all benefits? Insurance etc? pAid as a cash amount?
Best answers:
- Your pension money would be paid into your pension, you would not get it as part of any payoff.
What other benefits are you referring to? If it is health insurance most contracts would have a clause that states the cover would cease when you leave.
Also if you are getting Pay In Lieu of Notice is this contractual (Known as PILON) as different tax rules may apply. Check out the HMRC site: https://www.hmrc.gov.uk/manuals/eimanual/eim12975.htm
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