Uncertainty

Getting a really bad vibe about the company I work for and all this redundancy situation.

I have been given my redundancy notice (which although group consultation is still active – is legal according to UK law!).

The parent company has notified us that we ceased employment with them (on the sale day) and now all liability for pay and benefits resides with the ‘child company’. With the currently lack of communication from the ‘child company’, I am beginning to wonder if it can actually stand on its own two feet and if these liabilities are more than it can bear.

My worry is that the next announcement will be the one saying that the company has gone into administration – thereby relinquishing its liability to pay us anything.

Worrying times.. just when I was getting to grips with FI, I am now going to have to look to using this to support my life even though I haven’t reach the FI crossover point yet. At least I know I can survive without a job for a period of time using my FI savings and passive income. If I can keep my expenses down to the bear minimum then maybe I will be living a semi-FI life after all.

I need to start researching into what I can continue to do once I become unemployed “or semi-retired” – this status affects such things as: car insurance, mortgage, bank accounts, pension, health insurance to name but a few in the UK.

It is surprising how many things are affected by unemployment/FI – small print clauses such as minimum salary/income levels, minimum deposit levels, etc… for accounts/mortgages/insurance to be valid.

When I read the US FI blogs, no one mentions that they are penalised by their status becoming FI – how do they describe themselves to these companies? Is it different in the US? I have seen nothing mentioned about other FI-achievers having to pay more for such mandatory insurances and expenses? Only comment I have seen are on the US ones about health cover.

I find it strange that being unemployed actually puts your car insurance up as they say you drive more? When in actual fact I have found, based on previous experience, the opposite it true, I am driving LESS because I am not commuting. Given that I commute nearly 26,000 miles a year, unemployment actually reduces this down to the odd trip to the shops and back, or to interviews.

Fingers-crossed that I will hear better news. I have applied for 3 jobs this week and have not heard anything other than the ‘thanks for applying’ automated response. Jobs are few and far between in the line of work I am qualified to do – unless I want to relocate/travel to London. There is a job available that is so similar to my past job that I am not sure I could do it – there is not enough change in the working role to make it feel like it will be different/challenging and maintain my interest/motivation.

Agents are calling and offering me anything – stuff like a call-centre team leader job – (apologies to call-centre leaders) – but I don’t see how I am qualified to do this role when I run IT projects.

Just because I have updated my work profile on job sites to indicate that I am available for new challenges?

Funny, since making this change, I am also getting bombarded with stupid emails about ‘self-employment’ opportunities (“work from home/join our never-heard-of-company and earn extra cash from your home selling xxxxx which I guess no-one ever wants or needs“) and ‘CV review’ companies offering their services – for a fee of course!

At least I have my pay for last month, I am just wondering if I will get next month’s or not.

Now off to chase the agents about the jobs I have applied for and see if there is anything new, maybe I will have to wait until I am released and then look to do contracting work on a day rate basis.

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One thought on “Uncertainty

  1. Good luck with the job hunting, I hope you land something soon! Thanks for the info re car insurance – I never thought that not working would affect your premiums and always wondered why they asked for ‘job specification’.

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