Settlement Agreement – How Much Should I Be Offered?

This really does depend on a wide range of factors, in deciding how much money you should be offered in your agreement you will need to consider the following:

  • Details from your contract of employment that states your financial benefits (i.e. remuneration, notice period, untaken paid annual leave etc.) your length of employment
  • Any entitlement to bonus or commission
  • Any statutory redundancy entitlement
  • Any enhanced redundancy pay scheme you may have
  • The length of time it may take to resolve the problem if a settlement isn’t reached with your employer
  • How difficult it would be for your employer to fill the post you’re vacating
  • How long it might take you to find another job
  • The reasons you are being offering a settlement agreement in the first place
  • The possible liabilities and costs involved in dealing with any potential tribunal or court claim you may bring if a mutually agreeable settlement cannot be achieved.

A Settlement Agreement Calculator can’t take all this into consideration, working with a qualified solicitor, that way you’ll get the best agreement possible.

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