Thank You for your answer. I am having the Policy checked at the moment. When the PHI company decided to accept your claim, and they were doing their calculations for the amount of benefit you would receive, do you know how much they deducted in respect of Social Welfare Benefit you might receive? If they deducted an amount, was it just ONCE the Social Welfare Payment, or TWICE the Social Welfare Payment."I have been receiving benefit under a Permanent Health Insurance Policy provided by the employer"
I am not sure you can be made redundant. And it may not be in your best interest but definitely in your employers interest. You should check this carefully with the terms of your PHI Policy
Thank You for taking the time to reply.Remember people don't get made redundant, roles and positions do. If you are on PHI you would still be considered an employee of the company and if they were, for example, downsizing in Ireland, then they may be entitled to do this. Also PHI is not always permanent, it almost certainly will have a time limit on it, for example, retirement age.
In terms of the salary used for the calculations, unless you were covered for mandatory increases under a union agreement, steps in a scale or national pay awards, they are almost certainly under no obligation to inflation link or provide any increased salary for the purpose of those calculations.
I would image your PHI benefit increased each year by the prevailing inflation rate (CPI) up to a max of 3% (policy dependent).. Salary was always frozen at the value of when you went onto the PHI benefit...another aspect to check is your salary being used for your pension entitlements...Thank You for taking the time to reply.
PHI - Retirement age is the time limit in my case. Cover I was given on becoming ill was 75% salary, less Government Illness Benefit multiplied by TWO. Benefit has increased annually by 5%.
Redundancy - Figure calculated on the basis of my salary from 15 years ago, which by now is significantly lower than current PHI benefit. I obviously missed out on the chance of having salary increases during those 15 years. Salary increases generally were performance rated, but over 15 years would have been significant.
Many Thanks. Was it many years ago since you first received PHI Benefit? I must look out for the higher CPI this year also. Thanks for reminding me.Never heard of twice Social Welfare....Normally it is....You can have cover up to 75% of your total yearly earnings, less any benefits from the state or other income protection plans............If you don't receive twice social welfare they should not deduct it
Re % increase..............mine increased In line with Inflation subject to a minimum of 5%. So this year it increased by CPI of 8.2%.
Make sure you remain as an Employee
Thanks for that!IT worker on sick leave for 15 years sues over no pay rise
A senior IT worker on sick leave since 2008 tried to sue a tech giant for discrimination because he hasn’t been given a pay rise.uk.yahoo.com
may be of interest - from yesterday's Daily Telegraph.
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