Q Redundancy

Once you have a minimum of 2 years continuous employment, you should have minimum statutory entitlements. This is a basic entitlement to a statutory payment equivalent to €600 per week x 2 weeks per year of service. This is subject to a max Statutory weekly rate of €600 per week nett.

Example: 5 years’ service x 2 x €600 per week = €6000.

This statutory payment is paid net and is not subject to PAYE, PRSI and USC

If you have difficulty figuring out the net worth of your redundancy offer, please contact our National Redundancy Helpline today or enter your details below.

A Q Financial Advisor will be on your case with 24 hours.

In addition to the statutory payment, you may receive an Ex-Gratia payment based on years of service at the discretion of the employer. Should you receive such an offer you will need to consider the tax implications of the Ex-Gratia payment. This will vary for each individual based on age, recent earnings and the exemption options available from payment of tax on your entire redundancy/severance package. This requires individual calculation by a Financial Advisor or tax consultant. The calculation includes reference to the amount accrued in an employees’ employer pension.

WARNING; The decisions taken at Redundancy may have long term tax and Pension implications. You should not agree to any redundancy arrangement without discussing the full financial and pension implications with a Financial Advisor or legal representative.

Enter your details of employment /service or contact your Q Advisor today. Our National Redundancy Helpline will arrange a  return call from a Qualified and Regulated FinanciaL Advisor within 24 Hours.

Not all redundancy situations between Employer and Employee are amicable and we understand that it can be a very stressful situation for you.

Once Q have evaluated your individual position or employer offer, we can represent you in defining the hard financial facts of your offer and negotiating or advocating your position on your behalf with the employer.

This included illustrating and calculating the potential taxation outcomes and arriving at a final settlement that suits everyone.

WARNING; You should not sign any severance agreement ,Redundancy arrangement, statutory or legal declarations, without consulting your Q Financial Advisor or Legal representative.

Your Q Financial Advisor will work through the implications of your offer so that you know exactly what your minimum entitlements are, as well as your net payment to hand after tax. We will also examine the impact of your decision on tax free lump sums now, and from your pension in later life. We can liaise with your personal solicitor or we can act as authorised advocates for you in negotiations with your employer.

Some employers may seek to apply unfair or inequitable considerations to a redundancy offer or to deny some lawful entitlements altogether, often with unrealistic or unfair time frames for acceptance.

Q Financial Advisors are highly experienced in negotiating these outcomes to the approval of Employer, Employee and statutory bodies.

Please enter your data below or contact your Q Financial Advisor today.

You will have a response within 24 hours. 

Get independent advice on your redundancy entitlements and options. Experienced financial consultants are on hand now to evaluate employers’ redundancy offers. We will examine your entitlements as well as the impact of any payment on your taxation or pension status. 

Where you lose your job due to circumstances such as the closure of the business or a reduction in the number of staff this is known as redundancy.

The redundancy payments act 1967-2014 provide a minimum entitlement to a redundancy payment for employees who have a set period of service with the employer. Not all employees are entitled to the statutory redundancy payment, even where a redundancy situation exists. If you do qualify for redundancy there are specific redundancy procedures which employers and employees must follow in order to comply with legislation.

Call us today on Dublin (01) 5315200, Galway (091) 421900, Cork (021) 4190009, Limerick (061) 513900.

To arrange a free initial consultation on your redundancy and pension options. Complete the data box attached and an experienced redundancy or pension consultant will contact you within 24 hours to help explain your redundancy entitlements.

This is different for every individual depending on length of service, age, previous claims and tax allowances. You should not complete your redundancy acceptance or claim form with your employer without taking individual advice from a Qualified Financial Advisor.