VR Targeted worked examples

A Grade 7 Lecturer paid on spinal point 44, working full time. They are aged 44 and have worked for the University for 2 years at 31 July 2027. Their total VR package would be:

Weekly Pay (including the 26/27 pay award):                        £1,138.98           

Uncapped Redundancy pay (calculated at 3 weeks):             £3,416.95

Two months’ gross pay:                                                          £9,898.33

Total Voluntary Redundancy Payment:                                  £13,315.28

 

A Grade 8 Associate Professor on spinal point 49, working full time. They are aged 54 and have worked for the University for 11 years as at 31 July 2027. Their total VR package would be:

Weekly Pay (including the 26/27 pay award):                        £1,319.77           

Uncapped Redundancy pay (calculated at 16.5 weeks):               £21,776.28

Two months’ gross pay:                                                          £11,469.50

Total Voluntary Redundancy Payment:                                  £33,245.78

 

A Professor paid on Zone 2, spinal point 10, working full time. They are aged 56 and have worked for the University for 26 years at 31 July 2027. Their total VR package would be:

Weekly Pay (including the 26/27 pay award):              £1,731.28

Uncapped Redundancy pay (calculated at 27.5 weeks*):               £47,610.13

Two months’ gross pay:                                              £15,045.67

Total Voluntary Redundancy Payment:                        £62,655.80

* Service is capped at 20 years.

 

A Professor paid on Zone 3, spinal point 15 working 0.8FTE. They are aged 68 and have worked for the University for 31 years at 31 July 2027. Their total VR package would be:

Weekly Pay (including the 26/27 pay award):                        £1,560.71

Uncapped Redundancy pay (calculated at 30 weeks*):               £46,821.24

Two months’ gross pay:                                                          £13,563.33

Total Voluntary Redundancy Payment:                                  £60,384.57

* Service is capped at 20 years, giving the maximum number of uncapped redundancy pay at 30 weeks.

 

A Professor paid on Zone 4, spinal point 17 working full time. They are aged 62 and have worked for the University for 26 years at 31 July 2027. Their total VR package would be:

Weekly Pay (including the 26/27 pay award):                        £2,038.68

Uncapped Redundancy pay (calculated at 30 weeks*):             £61,160.46

Two months’ gross pay:                                                          £17,717.17

Total Voluntary Redundancy Payment:                                  £75,000 (capped payment)

* Service is capped at 20 years, giving the maximum number of uncapped redundancy pay at 30 weeks.