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Settlement Agreements: Should I accept or ask for more money

Our Solicitors will negotiate your Settlement Agreement: We will carefully advise you on whether the severance payment the employer proposes to pay you is a good offer, or whether it would be sensible to go back and ask for more money. However it is often worth asking for more money, or better terms of severance.

In order to do so we will need to speak to you to identify any potential claims arising, and to then consider what they might be worth.

Employers normally offer payments in addition to any sums that that they are obliged to pay you by law (for example a statutory redundancy payment and notice). This is often referred to as the Compensation, Termination, Ex Gratia or Settlement, Payment.

 

The payment may not be as generous as it initially appears; for example it may include your entitlement to notice and/or statutory redundancy pay. Bear in mind that there may not be any obligation on your employer to offer enhanced payments in a redundancy or severance situation.

 

If, for example, we identify a potential claim of unfair dismissal arising, the offer may not be sufficient to compensate you for your losses arising from that dismissal.

 

We have developed a handy redundancy calculator tool to compare what you might get in redundancy against what you might receive if unfairly dismissed. To use it, click here.

 

We will frequently negotiate better packages for our clients. Call us today to discuss this further with an experienced employment law solicitor.

 

 

Common Questions regarding Settlement Agreements

 

 

 

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