Voluntary Redundancy Calculator
Is the offer actually any good? Compare what you have been offered against the statutory minimum you would get anyway.
Your details and the offer
Average gross pay before tax over the last 12 weeks.
The total redundancy element being offered, excluding notice and holiday pay.
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Enter your details and the offer to see how they stack up.
What to check before accepting voluntary redundancy
Is the redundancy element separate?
Offers are often quoted as one number that bundles notice pay and holiday pay in with the redundancy payment. Those are owed to you regardless, so bundling them makes the offer look more generous than it is.
How much is actually tax free?
Only the redundancy and ex-gratia elements use the £30,000 exemption. Notice and holiday pay are taxed as normal earnings whatever the offer letter says.
Are you giving up any rights?
Voluntary redundancy is usually documented in a settlement agreement, which waives your right to bring a claim. You must take independent legal advice for it to be binding, and the employer normally pays for that.
Does it affect your pension?
Leaving early can significantly change a defined benefit pension. Ask your scheme for a projection before deciding — it can outweigh the payment.