Voluntary Redundancy Advice 

We advise ALL 226 staff who have been sent ‘at risk’ of redundancy letters to ask HR for a quote of how much you would receive if you took voluntary redundancy. Asking for a quote does not mean that you have applied for the scheme, just as getting an insurance quote does not provide you with cover. Indeed, nothing is finalised until you sign the settlement agreement. It does however provide you with a quote which we suggest that you keep a copy of, as it may be helpful for your records at a later date if you decide to stay and are offered one of the new positions.

If anyone is thinking of taking the severance scheme, please be aware that the University is only currently providing an indicative, rather than a final quote atm. The amount that you receive will be lower than the amount that HR are quoting you, as tax and national insurance will still need to be deducted from the amount paid for the notice period. In addition, holiday pay will be added to this amount and that will also be liable to tax and NI contributions. UCU are currently querying why the 3% increase in pay proposed by UCEA, has not been added to the amount quoted for the three / four months’ notice period.

Some staff may be thinking about the possibility of early retirement (if you are over 55 then you are eligible). If so, UCU advise you to email your pension scheme as soon as possible, either USS or TPS, and ask them for a personal quote as to how much you would receive.  If you are thinking of adding some of the money from the Redundancy Scheme to your pension pot, this will need to be completed before you leave your employment at Roehampton. You will need to ask your pension scheme for a quote to show how much it would cost to buy additional pension if you are in TPS.  This is personal to each individual so you cannot use a colleague’s quote as guidance. For those in USS you will need to ask for guidance on contributing additional sums to your Defined Contribution pot.

Previously the final month’s salary, the three/four months’ notice period and any money due for outstanding holiday entitlement has been paid around the 26th of the final month at work, whereas the lump sum payment has been paid approx. a month after signing the Settlement Agreement. The branch are seeking to clarify the dates that the various elements will be paid and will inform members as soon as we know.

Currently there are still clearly many unknowns regarding both this scheme and the new jobs that will be advertised, therefore we appreciate how difficult it is to make a final decision on this offer from the University right now, even if you are considering the voluntary redundancy option. Please remember that it is important that you have all the information available to you before you make a decision.