Do you need to make redundancies?
If you are an employer who needs to make redundancies you need to know from the outset what your likely financial exposure will be when it comes to making statutory redundancy payments.
Currently, redundant employees are entitled to receive:
- half a week’s pay for each year of employment before their 21st birthday
- a week’s pay for each year of employment after their 22nd birthday
- a week and a half’s pay for each year of employment over the age of 41.
For the purposes of calculating a redundancy entitlement, a week’s pay is capped at £508 (as at 6 April 2018). Employees can claim for a maximum of 20 years’ service.
Not sure how much redundancy pay your staff are entitled to? Call a member of our friendly Team on 0113 207 000 on a no obligation basis. Alternatively, simply fill out the form below and a member of our Team will get back to you.