Morning all
The company I work for will soon be put into administration (within days). Rumours of a possible buyer waiting until it does go under but nothing concrete. Not sure if this is the correct NG to ask, but after some advice on what benefits / help I can get. I have worked all my adult life and have never claimed a penny. I would not know where to start.
My wife and I have a joint mortgage repayment insurance policy which covers ASU, so I can claim back 50% of our mortgage on that. As I understand it, if you are made redundanant from a company the company pays the redundancy payment. As this company is going into admimistration the government will fund the redundancy? Is this correct? How long will it take for the government to pay the redundancy?
Secondly, if you are made redundant due to cut backs you get 1 weeks pay per full year served as your notice period, then you get your redundancy payment. When the company goes into administration do we still get the notice period payment as well?
Thank you for any advice.
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