Mutually Agreed Resignation Scheme (MARS) settlement agreement assistance
A mutually agreed resignation scheme (MARS) usually comes about where an employer is looking to save costs. Public organisations such as the NHS or the Police may use such a scheme.
A MARS usually involves offering employees a tax-free payment in exchange for agreeing to resign. The MARS will require employees to volunteer, and if accepted, an employee will be likely to be required to sign a settlement agreement.
What is a settlement agreement?
This is an agreement whereby an employee agrees not to pursue claims against their employer, usually in return for a termination or compensation payment.
Do I need to take legal advice on a settlement agreement?
Yes, it is usually a requirement of the employer that the employee takes legal advice on the terms of the agreement.
Will my employer pay for legal advice on the settlement agreement?
Yes, the employer will offer a contribution to legal fees to have the agreement explained. The standard contribution is upwards of £500 plus VAT. If you have been offered a settlement agreement, we will guarantee to cap our fee at the costs contribution offered by your employer. We will invoice your employer directly. This means there will no cost to you.
How quickly can you deal with the settlement agreement?
We understand that settlement agreements need to be dealt with quickly and can often offer a same day service. We can arrange a face-to-face meeting, by telephone, or online.
Can the settlement agreement be signed electronically?
In the majority of situations, the agreement can be completed electronically by using an electronic signature or scanned document. We can help you work out the easiest way for you to sign. We will return the agreement directly to your employer for you.
How can Ellis Jones help?
If you have been offered a settlement agreement under a MARS or any other situation, please do not hesitate to contact us on settlementagreement@ellisjones.co.uk or 01202 057754 to speak to a friendly and reassuring adviser from our Employment team.
How can we help?
When you submit this form an email will be sent to the relevant department who will contact you within 48 hours. If you require urgent advice please call 01202 525333.
