We’ve created some case studies to illustrate this scenario:
Scenario A – Worker remains out of work after claiming
Worker A has an account balance of $20,000 and is made genuinely redundant.
Worker A makes a genuine redundancy claim and receives their first $8,000 payment. This leaves $12,000 in their Incolink account.
28 Days after the initial claim, Worker A finds themselves still without work and can submit a claim for the remaining balance via their Incolink Account.
Scenario B – Worker finds work outside the industry after claiming
Worker B has an account balance of $24,000 and is made genuinely redundant.
Worker B makes a genuine redundancy claim and receives their first $8,000 payment. This leaves $16,000 in their Incolink account
1 week later, Worker B finds a new job outside of the industry meaning they are no longer receiving Incolink contributions.
Worker B has 2 options regarding their remaining balance:
- Option 1 - 28 days after the initial claim, Worker B decides they would like to continue receiving their redundancy payout and claims their remaining balance.
- Option 2 - Worker B decides that because they're earning an income, they'll keep some funds in their Incolink Account for when they need it most.
Scenario C – Worker has an account balance of $16,000 and is made genuinely redundant.
Worker C makes a genuine redundancy claim and receives their first $8,000 payment. This leaves $8,000 in their Incolink account
1 week later, Worker C finds a new job inside the industry meaning they are receiving Incolink contributions again.
Worker C has 2 options regarding their remaining balance
- Option 1 - 28 days after the initial claim, Worker C decides they would like to continue receiving their redundancy payout and claims an additional $8,000. This brings their original balance to zero. Even though Worker C will have new contributions made to their account, they will be unable to claim any new contribution made after their original end employment date.
- Option 2 - Worker C decides that because they're earning an income and receiving contributions again, they'll keep the remaining funds in their Incolink Account for when they need it most.
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