Tough times, tough choices; tough luck? #2

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UPDATED: 1315 Wed 2 March 2011
I've just made an important addition in bold to the end of the second last paragraph of this posting, following a clarification today of the advice I received on Monday morning.
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I have no intention of posting every day on this subject (or on any subject!), but here I am posting (possibly without precedent) twice in one afternoon (Episode 1 is here)!

I've had the initial meeting with my line manager, and a representative from Personnel Services (I took along a union representative, too); and timescales are a bit clearer. The meeting was constructive, realistic and answered all of my queries about what is going on, as far as was possible in advance of consultation being complete. (Statutory consultation with the unions carries on until 18 March - co-incidentally my birthday!) I will have a further meeting, probably in the week beginning 28 March, EITHER (a) to give me formal notice of redundancy (in my case 12 weeks notice, with an entitlement to 19 weeks pay as a redundancy payment), OR (b) to remove my post from the "at risk of redundancy" list (at least for this financial year). The redundancy payment, if it gets to that point, is at the same level as is current Council policy (and therefor part of my contract), and is similar to the statutory minimum in terms of the number of weeks pay, but does not have the (approximately) £380 per week cap of the statutory minimum. This is the same entitlement as I would have had if I had volunteered for redundancy.
If I am given formal notice of redundancy at the end of March, I will be placed on the redeployment register (so that I get first consideration of any "suitable" vacancies, prior to advertisement) for as long as I am attending for work; alternatively, I can opt to take "payment in lieu of notice" (in addition to the redundancy payment above) and leave the Council's employment. It seems that a reduction of hours of more than 50% will, by agreement between the Council and the unions during the consultation still underway, count as a redundancy situation, but this only applies where the reduction in hours is the result of the employer enforcing a reduction in hours.

Lots of food for thought, and plenty of time between now and the end of March to think!