Home office voluntary redundancy scheme
See also early retirement, below.
Equality analysis of the last voluntary redundancy scheme (omis, 2009-10) showed that a higher number of women than men left the University but that this was largely explained by the preponderance of women in the affected staff groups.Decisions about which posts will be closed under the scheme will be made taking account of the wishes of individuals and the departments operational needs.However, none of the stages of the VRS constitute stages of the standard redundancy process, and a VRS process will not automatically lead to any compulsory redundancies.Back to top Note on continuous service Continuous employment, for VRS purposes, is defined as the period from the beginning of employment with the Chancellor, Masters and Scholars of the University of Oxford, to the effective date on which that employment will terminate, provided that.Next, check to see if youve got payment protection insurance on your: Loan, mortgage, credit card, or, short-term income protection insurance, which pays out if you lose your job."Whether or not they will allow that to be pulled out of the Stormont House Agreement I don't know.".Back to top Bump Severance A Bump Severance arrangement arises where an employee whose post has not been identified as one their department is considering closing through the VRS would nevertheless like to volunteer to leave the University for an enhanced VRS payment (calculated according.
Weekly pay: Actual weeks pay, basic salary only (pro-rata for part-time).
That means youll need to continue to meet your repayments each month a big expense if youve no money coming.
The figure is likely to be higher than the amount youd get as statutory redundancy pay.
Dr McKibben raised the prospect that there could be negotiations with the Treasury to allow the scheme to proceed as planned, even if the rest of the Stormont House Agreement is not implemented.
Image caption More than 7,000 civil servants expressed interest in the voluntary redundancy scheme.
Being in this situation can have its benefits, but its important to weigh up all the pros and cons before taking voluntary redundancy.Individuals whose lump sum VRS payment will be over 30,000 may elect to waive any portion over 30,000 and instead ask the University to use it to purchase additional pension benefits (subject to the relevant mame emulator for psp 5.00 m33 pension scheme rules).Check the small print.But its important to work out how much money you would have to live.(NB USS members who choose to take early retirement after leaving the University would not be deemed to have retired if they intend to commence another job that is pensionable in USS with the University, or any other employer that participates in USS) Back.In all cases resignations made through the VRS must be entirely voluntary and also in the management interest of the University.Departments are asked to identify whether any activities of their departments could cease or diminish, such that the university-funded support or academic-related staffing of their department could be reduced by making a post, or posts, redundant.The MEP charge may be significant and impact on the departments ability to make a financial business case to close the post through the scheme.The Equality and Diversity team will conduct interim and final equality impact assessments as part of a review of the operation of the first year of the scheme.Back to top Re-engagement Individuals who agree to resign through the VRS will be eligible to re-apply to work for the University but, in common with the standard arrangements for voluntary redundancy payments, after they leave the Universitys employment, they may not normally be re-engaged.Staff whose posts are not identified as potentially eligible to be included in the VRS may nevertheless wish to consider a voluntary resignation through the bump severance scheme. A pro-forma application is provided which includes a business case template to assist with consideration of applications.It should be noted that this is a one-off scheme and is not contractual.Such cases will require a Mandatory Employer Payment (MEP) to be paid. .