VR Targeted FAQs
What are the terms of the scheme?
The voluntary redundancy payment will be calculated as a sum equivalent to the statutory redundancy payment based on uncapped weekly salary, plus 2 months gross pay. The total voluntary redundancy payment will be subject to a cap of 20 years’ service and maximum payment of £75,000. The University believes that payments up to £30,000 can be paid free of tax.
The VR payment will not include a payment in lieu of notice, and a contractual notice period will be expected to be worked in full. There is no difference in the calculation of the VR payment based on grades.
What will I receive by way of a voluntary redundancy payment?
We have created a set of worked examples that illustrate the voluntary redundancy payment and how it is calculated. Colleagues applying for voluntary redundancy will receive a full quote setting out the full gross payment they would expect to receive if their application is agreed.
Your request will then be forwarded to your Head of School for them to consider.
It is important to understand that the University reserves the right not to accept all applications, but all applications will be considered.
There is more information below about how the University will consider applications.
What happens after I apply?
Initially all applications will be shared with the Head of School. The Head of School will make a recommendation for acceptance or rejection of each application. All applications will then be submitted to the Voluntary Redundancy Group (VRG) who will make the final decision about whether to accept or reject an application.
What is the Voluntary Redundancy Group (VRG)?
The VRG is responsible for approving voluntary redundancy requests. It is chaired by a group of University leaders from the Consultation Group the University has set up to oversee the structure changes taking place. The VR Group will make the final decision on all applications having considered the recommendations from the Head of Directorate or School.
Why do I have to sign a settlement agreement?
If your offer is accepted, you will be required to enter into a legally binding settlement agreement with the University. This sets out when your employment will end, the payments to be made to you and that you will not bring any claims against the University in the future. It is standard practice for the University (and many other organisations) to require a settlement agreement where voluntary redundancy schemes are put in place. A copy of the settlement agreement will be provided to you as soon as possible once your offer has been accepted, with instructions on how to arrange for this to be signed. You will need to take independent legal advice, and the University will pay up to £400 plus VAT for you to do this.
If my application is declined, can I appeal?
There is no right of appeal against the decision should a voluntary redundancy request be declined.
I have less than two years’ service. Can I still apply?
Yes, you may still apply and your application will be considered, as above.
You cannot apply if you are within the first six months’ of employment, or longer if a normal probationary period has been extended for an allowable reason.
If I express an interest in voluntary redundancy, do I need to give my reasons why?
No, there is no requirement for you to give specific reasons for why you are expressing an interest in the voluntary redundancy scheme. Your application will be forwarded to your Head of School to consider, so if you are planning to apply, you may wish to speak to your Head of School in advance, but there is no requirement to do so.
Will all applications for voluntary redundancy be accepted?
No. While the scheme is being launched to generate savings , we still need to deliver on the ongoing core commitments and services the University has to deliver. All requests will be considered against the over-arching managerial interest:
- to ensure the University’s over-arching financial strength and sustainability.
- to continue to provide the best possible student experience.
- to optimise the University’s returns to the REF, the TEF and other strategically important rankings.
The University is unlikely to agree to requests where backfill arrangements would be required. Requests may be declined where the loss of the post will impact significantly on the School’s ability to deliver core activity or planned priorities.
If I leave the University by taking voluntary redundancy, can I still get Emeritus status?
Employees at Professorial level that leave after the minimum age of retirement (age 55) can be considered for Emeritus Professor status. If it is agreed an Emeritus Professor title will be conferred, it will be arranged that it is automatically allocated the day after your leaving date of employment.
Those with Emeritus status are permitted to retain their University email account and, if they wish their IT equipment.
For all other instances, please refer to the Honorary, Visiting and Courtesy Titles guidance to check which title may apply to you. For all other titles, an application must be made by the Head of School prior to the leaving date. It is not possible for other titles to retain their University email account but an application can be made for an external email account, should it be required.
If I apply, but my application is not accepted, will this affect my future employment?
No, if you volunteer for redundancy but are not selected, it will not affect any aspect of your future employment with the University.
Can I withdraw my application?
Yes, you can withdraw your application at any point up to the date on which you sign the settlement agreement with the University.
If I apply for voluntary redundancy, and it is accepted, can I apply for other roles and come back and work at the University in the future?
Yes, you will not be barred from applying for future jobs at the University. However, if you leave the University under voluntary redundancy, you cannot be re-employed or work as a contractor / consultant at the University for a minimum of 24 months.
I would like some information about my pension before considering whether to apply?
If you are over 55, you can get a pension quote by sending an email to pensions@reading.ac.uk and quoting “VR – Pension Info Request” in the subject line. The Pensions Office will arrange a quote for you from the pension provider but please note that it cannot be guaranteed this information will be available prior to the deadline set to offer to take voluntary redundancy.
If you are under 55 you cannot draw your pension, and quotes will not be requested on your behalf.
The University will not be making any payments to purchase additional pensionable service. If you are considering using part or all of a voluntary redundancy payment to top up pension you should consider seeking independent financial advice. When you return the letter to make an offer to take voluntary redundancy, please indicate on there if you would like part or all of your voluntary redundancy payment to top up your pension. The University will endeavour to facilitate this, in accordance with the terms of the scheme.
Who can help me with any questions I might have?
If you have any specific queries in relation to the voluntary redundancy scheme you can email, vrqueries@reading.ac.uk and a member of the Human Resources team will respond to your query as soon as possible.
If you are a member of UCU you may wish to seek advice from one of your local representatives. You can also speak to members of the Staff Forum.
You may want to seek independent advice (such as via an independent financial adviser) or talk to your family and friends.
I am worried about upcoming change. Where can I go for help?
We understand that this period of change for the University can be unsettling. If you are feeling anxious or worried, please talk to your line manager as they may be able to allay concerns or can find out answers to questions about things which may be worrying you.
You can also contact our Employee Assistance providers by calling 0800 085 1376 or email assist@cicwellbeing.com. You can also visit the Wellbeing Gateway website (enter your username@reading.ac.uk to Log In). It offers a comprehensive range of support and advice services to colleagues including:
- Health and wellbeing advice and information;
- Counselling & emotional support;
- Debt & financial management;
- Legal and tax advice.