Redundancy Strategy - Quickly renew Tier 1

[alxale]

Hi guys, my company is doing some restructuring and we are all "at risk" of redundancy

I have one more year before qualifying for ILR

I am thinking .. If I were to be made redundant and then take a few months to find another job, I may not qualify (in terms of salary requirements) for ILR or even Tier 1 Ext in 1 years time.

However, if I am informed of being made redundant, I can quickly submit for another Tier 1 Ext since I qualify now based on past 12 months salary and get another 3 years (Is 2nd extension always 3 years ?)

I can now take my time to look for another job and apply when I qualify for ILR from a salary perspective

Will this strategy work for those at risk of redundancy ?

[bubin123]

yes...

[sairam143]

just quick side note you can show your redundancy pay as income, i did same when i went for extension.

[O_Relly]

I thought redundancy pay could not be used as previous earnings.

Policy guidelines on pg18 states,

103. Unearned sources of income that we
will not consider as previous earnings include:
•expenses (such as accommodation,
schooling or car allowances) that
reimburse the applicant for money he/she
has previously spent;
•dividends, unless paid by a company in
which the applicant is active in the day-today management, or unless the applicant
receives the dividend as part or all of his/
her remuneration package;
•income from property rental, unless this
forms part of the applicant’s business;
•interest on savings and investments;
•funds that were inherited;
•employer pension contributions;
•money paid to the applicant as a pension;
•expenses where the payment reimburses
the applicant for money he/she has
previously spent;
•the value of the shares an applicant
receives when offered a job under an
employee shareholder employment
contract;
•redundancy payment;
•sponsorship for periods of study;
•state benefits; or
•prize money or competition winnings, other
than where they are directly related to the
applicant’s main profession or occupation.

It uses the term "Unearned" sources of income, not sure what this means.

[chsubbu33]

Any further update on this about either the redunadncy pay can be included in showing of the earnings or not?