Redundency: when you become redundent in the UK, is it a week or a months pay?
In England, UK is it a week or a months pay you get for the time you have been at a workplace, when you become redundent?
Answers:
Redundancy payments
The amount of statutory redundancy payment an employee is entitled to depends on their age, length of continuous service and normal pay. The statutory maximum is £290 per week [March 2006].
How to calculate redundancy payments
Employees are paid for each period in which they were in a particular age band. The payments for each of these periods should be calculated and then added together. The age bands and respective entitlements are as follows:
Employees between 18 and 22 years old are entitled to half a week's pay for each complete year of employment;
Employees between 22 and 41 years old are entitled to one week's pay for each complete year of employment;
Employees over 41 but less than 65 years old are entitled to one and a half week's pay for each complete year of employment;
There is a maximum of 20 years of employment for the purpose of the redundancy payment calculation.
Employees may be entitled to higher payments if their contracts of employment provide for this.
handy calculator for working out redundancy payments can be found here
http://www.dti.gov.uk/employment/employm.
.
A week per year served unless you're over 42 then it's one and a half
it depends on your conditions of employment i think hunny
and if this is because you are facing redundancy can i offer my sympathy xx
The link below will take you to the DTI webpage on redundancy payments.
It is half a week's pay per year for those under 21, a week's pay for those aged 21 - 40, and 1 1/2 weeks pay for those aged 41+.
The rules changed on the 1st October this year.
You get one week for every full year you have worked at that particular job.
Payment Criteria
Generally, in order to qualify for redundancy payments, the employee must be working under a contract of employment and have at least two years continuous service with that employer. Service before the age of 18 can not be included in the minimum two year period. The employee must also be aged 20 to 64 years. The number of hours worked per week is not relevant.
The self-employed and members of a partnership would not qualify.
Age
Redundancy payments are made to those employees aged 20-64.
Age is divided into a number of bands.
Age 20-21
Receive half a week's pay for each complete year of continuous service
Age 22-40
Receive one week's pay for each complete year of continuous service
Age 41-64
Receive one and a half week's pay for each complete year of continuous service
Age 64 and over
Payment is reduced by one twelfth for each full month over the age of 64
Age 65 and over
Not eligible for redundancy payment.
go to www.acas.org.uk their website tells you everything you need to know about redundancy, I found them really helpful
To be entitled to Statutory Redundancy Pay (SRP) in the UK, you have to have been employed for a minimum of 2 years. The amount of SRP is calculated by length of service and the employees age at the time of redundancy, the basic calculation is 1 wks pay per year of service. You will also be entitled to any outstanding wages, pay in lieu of notice (if you are unable to work through your notice period) and in some cases any bonuses that you would usually receive. SRP is the minimum amount of redundancy pay the law says an employer must pay, however you may wish to check your Contract of Employment to see if the terms within it are more favourable. Check with your local Citizens Advice Bureau for further advice in this matter.
one weeks basic pay for every full year of unbroken employment,
Depends on your notice period and contract. Normally people get paid monthly so they get 1 months pay as redundancy after 2 years and then another month each year after that. I would check your contract though and it very much depends on how long you have worked there - the longer the better.
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Answers:
Redundancy payments
The amount of statutory redundancy payment an employee is entitled to depends on their age, length of continuous service and normal pay. The statutory maximum is £290 per week [March 2006].
How to calculate redundancy payments
Employees are paid for each period in which they were in a particular age band. The payments for each of these periods should be calculated and then added together. The age bands and respective entitlements are as follows:
Employees between 18 and 22 years old are entitled to half a week's pay for each complete year of employment;
Employees between 22 and 41 years old are entitled to one week's pay for each complete year of employment;
Employees over 41 but less than 65 years old are entitled to one and a half week's pay for each complete year of employment;
There is a maximum of 20 years of employment for the purpose of the redundancy payment calculation.
Employees may be entitled to higher payments if their contracts of employment provide for this.
handy calculator for working out redundancy payments can be found here
http://www.dti.gov.uk/employment/employm.
.
A week per year served unless you're over 42 then it's one and a half
it depends on your conditions of employment i think hunny
and if this is because you are facing redundancy can i offer my sympathy xx
The link below will take you to the DTI webpage on redundancy payments.
It is half a week's pay per year for those under 21, a week's pay for those aged 21 - 40, and 1 1/2 weeks pay for those aged 41+.
The rules changed on the 1st October this year.
You get one week for every full year you have worked at that particular job.
Payment Criteria
Generally, in order to qualify for redundancy payments, the employee must be working under a contract of employment and have at least two years continuous service with that employer. Service before the age of 18 can not be included in the minimum two year period. The employee must also be aged 20 to 64 years. The number of hours worked per week is not relevant.
The self-employed and members of a partnership would not qualify.
Age
Redundancy payments are made to those employees aged 20-64.
Age is divided into a number of bands.
Age 20-21
Receive half a week's pay for each complete year of continuous service
Age 22-40
Receive one week's pay for each complete year of continuous service
Age 41-64
Receive one and a half week's pay for each complete year of continuous service
Age 64 and over
Payment is reduced by one twelfth for each full month over the age of 64
Age 65 and over
Not eligible for redundancy payment.
go to www.acas.org.uk their website tells you everything you need to know about redundancy, I found them really helpful
To be entitled to Statutory Redundancy Pay (SRP) in the UK, you have to have been employed for a minimum of 2 years. The amount of SRP is calculated by length of service and the employees age at the time of redundancy, the basic calculation is 1 wks pay per year of service. You will also be entitled to any outstanding wages, pay in lieu of notice (if you are unable to work through your notice period) and in some cases any bonuses that you would usually receive. SRP is the minimum amount of redundancy pay the law says an employer must pay, however you may wish to check your Contract of Employment to see if the terms within it are more favourable. Check with your local Citizens Advice Bureau for further advice in this matter.
one weeks basic pay for every full year of unbroken employment,
Depends on your notice period and contract. Normally people get paid monthly so they get 1 months pay as redundancy after 2 years and then another month each year after that. I would check your contract though and it very much depends on how long you have worked there - the longer the better.
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