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Redundancy – Your New Entitlements

Redundancy – Your New Entitlements

It is hoped that you are never made redundant, but if that does happen, here is how you can calcuate your redundancy payment.

From April 6th the following new rates for Statutory Redudancy payments apply:

The cap on the value of a week’s pay, which is used to calculate Statutory Redundancy Pay for employees earning above that amount, will increase to £571 per week (from £544) .

The overall maximum Statutory Redundancy Pay, based on 20 years’ service (only the most recent 20 years of service count for redundancy pay purposes) increases to £17,130 (from £16,320).

The Graham Agency, working with you.