Can you work out this contract

bstu123

All,

Below is in my employment contract....I have worked for the company for 6 years, if I am made redundant do I get 6 x 3 weeks wages?

Also....do I get 4 weeks notice then 6x3 which would be 22 weeks in total?

REDUNDANCY COMPENSATION
Redundant employees who have a minimum of two years' continuous service will normally be entitled to be paid statutory redundancy pay, which is calculated according to the employee's age, length of service and weekly pay.
Age BandsNumber of weeks pay per complete year of service
Under 22 1.5 weeks
22 to 41 3.0 weeks
Over 41 4.5 weeks

These payments include the statutory entitlement.
For the purpose of this Agreement ‘pay’ means basic salary but excludes overtime and all other payments and benefits.
b). A minimum of 4 weeks’ paid notice will be given, irrespective of service. Longer periods of paid notice will be given to meet contractual entitlement.

Regards,

Stuart.

LittleVoice

Redundancy pay - if you are between the ages of 22 and 41 then you will be entitled to 18 weeks pay (6 x 3). This is the company's scheme which is more generous than statutory and therefore includes the statutory element within it.

You will be entitled to 6 weeks notice - that is time, not money (though of course it is paid time!) It doesn't mean you don't have to work the notice.

getmore4less

Thats a generous package.

Redundancy 6*3 not taxed up to £30k.

Notice is 6 weeks normal pay. they can offer PILON which will pay you immediately without having to work your notice. If there is no contactual right to pay PILON you may be able to get this without paying tax also.



When did you start? does the notice takes you over another year.

if you are over 41 then you work back from the termination date to work out the value of the years not forward from the start date.

bstu123

Hi,

I am 32 and the notice period will not take me over the 6 year mark. I hear I have 2 months notice instead of 6 weeks.

I am currently on an annual wage of £30k so if say tomorrow they arrange the meeting and offered the below package (including Pilon I could potentially walk away with arround 7k.

Would take that just a pitty there's no other jobs out there once this happens.

Stuart