Originally Posted by
M.Mouse
I believe it is the statutory minimum which is capped at £16,140. There was no negotiation.
we were not given the calculation, but some clever people back-calculated to find that the VR offer was statutory minimum + PILON + 10% annual salary.
But the kicker is that the PILON doesn't get pension contributions (as a CR notice period would).
This reduces the effective uplift to around 3 weeks (depends on which pension you are on).
So VR
≈ CR + 3 weeks pay