Allow me to quash any rumour along the lines of -
there will be no enforced retirements but if there are the package will be substanially less than the one offered to us in the mid 90s
The terms are laid down somewhere in an important scribbly manual somewhere (QR's?)
Redundancy Packages are based on two criteria.
How long you've done, and how long you've got left.
Both straight line graphs, one sloping up, the other down.
To get the most wedge, you will need to be at the high intersection of the graphs.
Are you still with me?
Basically, if you've got 5 years to run on your present engagement, then you will be at that intersection.
eg. If you were on a 22 year engagement you would get the most dosh if you left on redundancy at the 17 year point, because:-
a) You would get 18 months salary ('cos you've got 5 years left)
b) You'd get 17/22ths of a pension
c) and 17/22ths of a gratuity
and you can commute some of the b) above
Similar calculations for Wodney engagements.
The graphs don't slope too steeply, but if you only only had a year left, you might only get your bus fare home and one less trip to the gas chamber.
Any questions?
Ay theng you
But I haven't heard anything about redundancies. Its just my specialist subject.