redundancy pay

[ripley 1]

ive just got made redunant from a company ive worked for 5 years. ive heard that if the company didn"t give me notice im intitled to my weekly wage for every year ive worked there and not the maximum of �310 set out by the goverment? please any infomation would be helpful.

[pingping]

Hi there, can't help with this one, but try posting it into Law (Civil) instead as they can usually help in that section.

[buildersmate]

That is correct. You are entitled to your period of notice before the dismissal due to redundancy took effect, or be paid money in lieu of notice. And then your employer has to pay out the redundancy payments. The �310 you mention is the minimum - not the maximum. There are many decent employers who pay far more than the statutory Government minimum.

[antiguru]

There�s 2 separate things here. One is the notice you should be given, both in terms of time and money if you don�t work it. Basically, for 5 year�s service I would expect your notice to be 5 weeks. That means they either have to tell you 5 weeks before your termination date that you are going to leave through reason on redundancy or they pay you the equivalent of 5 weeks pay. This may be taxed.

The second part is the redundancy payment itself, which is not taxed. This is worked out on your age and your length of service, so I can�t guess what it�s likely to be. However, you need to look on the website below for �ready reckoner� (right hand side, related links) and it�ll work it out for you. The weekly pay in this statutory amount is capped at �310, but as buildersmate says, some companies do waive the capping and do the sum based on your actual pay, but they don�t have to.

There�s lots of information on http://www.berr.gov.uk/employment/redundancy/i ndex.html

Hope this helps.