Insolvency and cessation of business payments
What is it?
A payment from Social Security to a qualifying employee whose employer has ceased to carry on business in the Island and has either refused or failed to pay them wages or holiday pay or for statutory notice.
Basic qualifying conditions
To be entitled to a payment from Social Security-
- your employer must either have become insolvent or has otherwise ceased trading in the Island; and
- your employment with that employer must have ended; and
- you must be owed wages or holiday pay, or be due payment for statutory notice; and
- your employer has refused or failed to pay all or any part of the monies due to you.
Advice should be sought from the Manx Industrial Relations Service before making any claim. They can be contacted on (01624) 672942 or by e-mailing email@example.com
How and when to claim
A claim must be made on form IP1 (in respect of wages and holiday pay) as soon as it becomes clear that your employer cannot or will not pay you the monies you are owed.
You should complete form IP2 where you have not been given statutory notice. You cannot complete this form or submit it until you reach the end of what would have been your statutory notice period. Your claim is for compensation only and this may not be the amount you would have earned during the statutory notice period. Please seek advice from the Manx Industrial Relations Service before making a claim.
When completed send the form(s) to -
Redundancy/Insolvency Payments Team
Social Security Division
Telephone:+44 1624 685103
Email: Send Email to firstname.lastname@example.org
Payment is made by cheque, which you can cash at a Post Office or pay into your bank or building society account.
If you are due a redundancy payment and your employer has refused or failed to pay you a redundancy payment, you may be entitled to another payment from Social Security. See Redundancy Payments from Social Security page.