With the ending of the Pandemic Unemployment Payments (PUP) on 25 February 2022, plus the Employers Wage Subsidy Scheme (EWSS) later this year, there will be unfortunately and inevitably businesses closing down and redundancies arising.
Do not panic. For some, it is the yellow brick road, a potential new challenge that could work out very well for you and your family.
Embrace the opportunity but know all the facts and figures on entitlements so you start on the right footing. John Lowe of MoneyDoctors.ie has all the details to share.
There are various circumstances in which people receive compensation for loss of employment. The most common is where you are made redundant and you get a settlement, which may include the statutory redundancy lump sum, and a further sum negotiated by you or your trade union with the employer.