UB Redundancy Package: incl a lump sum of €6,350 for each child : is this true?

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Cyrstal

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A family member of mine works in Ulster bank.....she has told me that the Redundancy Package includes a lump sum of 6350 for each of her kids?? Plus 8,500 training grant....

Could this be true??
 
Cyrstal said:
A family member of mine works in Ulster bank.....she has told me that the Redundancy Package includes a lump sum of 6350 for each of her kids?? Plus 8,500 training grant....

Could this be true??
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The structure of the package is at their discretion. Given that it's voluntary and unionised this doesn't sound farfetched.

Your motivation for asking the question intrigues me.
 
I'm confused because I think it would be discriminatory against people without kids?? Like why should someone with kids get more of a redundancy package than someone without kids??
 
Cyrstal said:
I'm confused because I think it would be discriminatory against people without kids?? Like why should someone with kids get more of a redundancy package than someone without kids??
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I'd agree. I'd be raging tbh.
 
I don't really see the problem - it's voluntary, so they can choose to take it or leave it. By the same argument, basing the amount on length of service and current salary is 'discriminating' against people who haven't worked there as long or who aren't earning as much.
 
This is true and was a feature of the previous redundancy package in FA as well, it caused a lot of bad feeling at the time as staff with very short service but several children were coming out with more money than longer service staff. Length of service is not a personal choice, its just the situation at the time, but children usually are, I say usually, I know not always before someone bites my head off. It can also mean that staff who work part time because of children can end up with bigger lump sums that full time staff. In my opinion it is discrimatory against staff without children. If either married or single people were to get increased amounts because of their marital status I am sure that would be discrimination so why should how many children you chose to have benefit you either over someone with longer service.
 
Someone without kids gets €6k less which imo is not fair. Probably hoping there will be less full pay mat leaves in the future.

Lenght of service is fair imo as people with the same service get the same package based on the number of years they have with the company not based on how many kids they choose to have.
 
rmelly said:
I don't really see the problem - it's voluntary, so they can choose to take it or leave it. By the same argument, basing the amount on length of service and current salary is 'discriminating' against people who haven't worked there as long or who aren't earning as much.
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Would it be fair if it was 6k less for each kid ?
 
becky said:
Lenght of service is fair imo as people with the same service get the same package based on the number of years they have with the the company not on how many they choose to have.
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My length of service is based on when I chose to apply and ultimately join a company, I don't see the difference. I choose to work for my current employer and chose when I joined and hopefully will choose when I leave.

To be honest I can't understand the begrudery about this. Does it really matter what someone else is getting and whether they get more or less than someone else? Is it taking money out of your pocket that someone else gets more? It's voluntary, so if you aren't happy with the amount, then don't volunteer.
 
It's not really all that 'voluntary' if it means having to travel to a different town for a different role with different hours.
 
Restructuring and relocation are par for the course for many people and were even in the 'boom' years.
 
I wonder could you "borrow" a few chisellers to get the payment ... kinda like some farmers did for the EU headage grants. :D
 
dub_nerd said:
I wonder could you "borrow" a few chisellers to get the payment ... kinda like some farmers did for the EU headage grants. :D
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LOL - I was thinking earlier about the film about the 2 young fellas and the horse when the man from the Dept of SW comes to the halting site and asks how many kids the man had and 20 kids appear.


rmelly - we'll have to agree to differ here. To me it's quite simple - if I have 10 years service with a company and someone had 3 years service plus 3 kids but ends up getting maybe €10k more than me, thats unfair.
 
Ulster Bank staff told to reapply for employment

[broken link removed]

"Staff who wish to take redundancy from the bank are being offered one of two options - eight weeks pay per year of service, or 7.25 weeks per year of service with a €6,000 payment for any child in education, up to and including third-level."
 
becky said:
rmelly - we'll have to agree to differ here. To me it's quite simple - if I have 10 years service with a company and someone had 3 years service plus 3 kids but ends up getting maybe €10k more than me, thats unfair.
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Becky,


Agree with RMelly on this, I am single, no kids but believe this is a fairer way of payment
 
There are 2 options on the UB redundancy package, one with the €6350 per kid and 7.25 weeks per year of service capped at a max 3 years salary in payment, one without the payment per kid but with 8 week per year of service and 2.5 years cap. These figures include any statutory entitlements. The first figures are the standard FA redundancy terms, the 2nd one is the standard UB redundancy terms in the past, in the interest of fairness the bank has offered either set of terms to staff across both organisations
 
Finding it hard to grasp the point here - is it that people are jealous of people because of their redundancy package? Is this what the country has become?

It costs a fortune to rear a child and thus seems fair that some allowance for this is made in terms of people's packages although understandable that this would then mean that these people would "get" more than those without kids on longer servie but get this.....the people with kids will have more family to support once out of a job - they're not being given 6k to run off to Spain for the recssion!!!

Mad Stuff.
 
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