VRS Calculator

The VRS calculator 2016 (15kb) tool is available to work out VRS benefits.

VRS benefits are calculated using the following methodology:

 

Voluntary severance payment

For each full year of employment where the age was:

under 22

0.88 of a week’s pay*

22 – 40

1.75 weeks’ pay*

41 and over

2.63 weeks’ pay*

*Benefits are calculated using an actual, current week’s pay, (basic salary only ie excluding any allowances etc and pro-rata for part-time), not the salary paid when the service was completed.
Maximum no. of years’ service that can be counted  20
Maximum no. of actual weeks’ pay possible under VRS  52.6

Go to the VRS calculator 2016 (15kb)

You will need to input the following information about the employee for whom the calculation is being made:

  • grade and scale point (your departmental HR contact can provide this if you don't know).  Select from the drop down box.

  • FTE - Full-time equivalent. Enter the contracted working hours (as set out in the employment contract), expressed as a percentage. So, eg  for a full-time post enter 100, or for a half-time post enter 50.   [Support staff full-time hours are 36.5 per week, for academic-related staff notional full-time hours are 37.5 per week].

  • leaving date - for the purposes of estimating benefits use an estimated date.  This should take account of the period of time given to employees to consider a VRS offer (usually three months), plus up to a month for divisional and ISAP approval processes, plus the contractual notice period in the individual's contract of employment (between 1 and 3 months).  Once a case is ready to be put forward it may be necessary to recalculate benefits using the actual leaving date if this is different to the estimated date.

  • continuous service date - this is the first date of employment with the Chancellor, Masters and Scholars of the University of Oxford, provided that there has been no break in that employment of one complete week (ending on a Saturday) or longer. This information is given in the contract of employment. See scheme outline for more information about what breaks continuous service.

  • date of birth - this is needed since benefits are accrued at different rates at different ages.