can anyone tell me where i stand in the following circumstance please?
i was working for the rok group and took early redundancy and now the company has gone into administration
can anyone tell me where i stand on my redundancy pay?
Unfortunately when a firm enters into insolvency there is not a lot of money left so there is a risk you could receive no redundancy. Administrators will normally try to pay staff their wages or some compensation where applicable.
The official receiver should notify all employees of what has happened and give you some forms to fill in so you can recoup some of the money that is owed to you. Any claim you make will be sent from the Redundancy Payments Office and HM Revenue & Customs. Your old employer should be able to tell you who is acting as the administrator if you do not already know.
There are measures in place by the government to try and make it so that everyone who works for a company that goes into liquidation gets some basic payoff.
hope you get sorted mate!
Some companies transfer the redundancy funds to another (financial) company for administering them, if this is the case and your redundancy funds are already allocated to you then there is a (slim) chance that you may be ok as the funds maybe outside the assets of the ROK group.
Best of luck
thanks for the info d.d
i currantly digesting every bit of info i can regarding this!!