In the UK, what's the usual redundancy payment?
January 6, 2007 2:51 AM Subscribe
I was recently made redundant from a job I'd worked at for 3½ years. Under UK law then, I was due a redundancy payoff of three times my weekly wage, up to a maximum of £290 weekly wage.
From my reading though, an employer could be generous and pay three times the actual wage if it was over £290 - and I'd swear this was what happened the other time I was made redundant. But what experiences have others had?
(And, not to worry: I start a new job Monday)
(And, not to worry: I start a new job Monday)
After two years service, the statutory minimum one weeks pay / year worked comes into force. As Mutant says, some employers are more generous - I was given three months pay to walk away from a job I'd had for only a year. More good news; your redundancy money, up to £30,000, is tax-free!
posted by punilux at 5:07 AM on January 6, 2007
posted by punilux at 5:07 AM on January 6, 2007
There's a calculator here to help you work out the statutory redundancy pay. I hope your employer is more generous, although it isn't obliged to pay more than the minimum required by law.
posted by essexjan at 9:34 AM on January 6, 2007
posted by essexjan at 9:34 AM on January 6, 2007
When it happened to me I got 4 weeks salary + another weeks salary per year I'd been there. They're only obliged to give you statutory redundancy pay though.
posted by crocomancer at 10:41 AM on January 6, 2007
posted by crocomancer at 10:41 AM on January 6, 2007
This thread is closed to new comments.
From comparing notes with others who got it at the same time, it seemed any non British national was treated very, very well. The Solicitor I consulted to review the paperwork said the last thing this particular bank wanted was for The Home Office to notice they were importing staff and depositing them here in large numbers (over 10K globally were made redundant that year by this single firm).
Sounds like you landed on your feet! Best of luck to you.
posted by Mutant at 4:06 AM on January 6, 2007