Redundancy & holiday pay quickie

madkitty

Can someone clarify this for me - If I am made redundant after 9 years how would my holiday pay be calculated, is it just 9 weeks of holiday that I would get including what I had accrued this year to date? If it helps I get 22 days a year but 3 of those have to be taken between xmas and new year and our holiday runs jan-dec.

snuggle69

you will only be entitled to holiday pay for the current year, not the entire 9 years

madkitty

hahahaha thats a shame! By the 9 years I meant that my notice is therefore 9 weeks and that would I get holiday pay for that period?

madkitty

oh and is the holiday pay taxable?

1984ReturnsForReal_2

hahahaha thats a shame! By the 9 years I meant that my notice is therefore 9 weeks and that would I get holiday pay for that period?
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You would have to get your contract out & have a look first.

BUT

Redundancy Pay is REDUNDANCY PAY

Holiday Pay is HOLIDAY PAY (you will be paid the holiday owing for the current year only & has nothing to do with your previous years of employment unless you have carried unused days over to this year)

Notice is NOTICE

do not confuse them or add them in together.

I am sure someone will answer your question but dont confuse the above.

madkitty

now im confused! your notice period for redundancy is based on the length of time with the company - for me 9 years?

1984ReturnsForReal_2

madkitty wrote: »

now im confused! your notice period for redundancy is based on the length of time with the company - for me 9 years?

Notice period is the ammount of time an employee or an employer has to give the other party when they want to leave (or want the employee to leave).

Your minimum (statutory) redundancy payment is based on 1 week per year but is limited in value. This may be more but that is dependent on what is written in your contract.

Your employer may be oblidge to pay you additional notice period on top of the redundancy pay & should also pay all outstanding holiday (but again look at your contract first).

Numpty_Monkey

As 1984 says your redundancy/notice period is based on the number of completed years service
or if it state a longer notice peroid in your contract that is what you should get

Holiday pay is based on the "holiday year" , you acrue X many days per month worked, less any taken, holiday pay is taxable

missymugwump

Did the original poster mean

Whilst in ie.. a 2 month notice period is holiday still ecruing in the 2 months notice period ?

Or maybe that's not what he mean't im confuzzled

getmore4less

This is my understanding

Your notice period will be 9 weeks(longer if contract says so) and all benifits should continue for those weeks.

So if you get PILON that should include compensation for the pay and the benifits so holidays and any other benifits can be converted to cash equivilents.

If the notice take you over a year boundry you should get another year service and any benifit that come with that.

PILON can be taxable allthough many avoid it.