Waiving your right to notice period

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aircobra19

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What are the pros and cons if you waive your right to notice, and recieve payment in lieu. Are their any significant rights you are giving up?
 
Do you mean when signing a new contract or when actually leaving? I don't think that you can sign away statutory rights in the former case. In the latter I don't think that you lose anything significant unless stuff like a month's (?) lack of pension fund membership or PRSI cover comes into play and may be relevant (e.g. in the former if you were 23 months in the fund and the extra month would vest emplooyer contributions etc.)?
 
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