stat redundancy payment / lieu of notice

cabunny

Hi I would be grateful if anyone can answer my queries.
With regards to the £350 max weekly payment for statutory redundancy payments, is this full time equivalent? I work 0.5 pt so would my max weekly payment be £175? (i.e. 0.5 x 350)

Also, I am entitled to 8 weeks notice but my last day will be 31 July, so I will get about 5 weeks pay in lieu of notice. Does this mean I will not be able to claim JSA or anything for the 5 weeks i have effectively been paid for? Can I still take on temp work though in that period?

thanks for any advice!

aitch-aitch

Just copied this from the MSE redundancy help section


Minimum Statutory Redundancy Payments
After two years with your employer, you’ll qualify for a minimum statutory redundancy payment. If you’ve worked there less than this and you’ve no right to any recompense.
For those who have at least 24 months’ continuous service, your entitlement depends on your age and longevity at the company.

• Under 22. Half a week's pay for each full year of continuous service
• Aged 22-40. A week's pay per year of continuous service
• Over 41. A week and a half’s pay for each year of service

However before you start adding it up, it’s based on a maximum salary of £18,200 a year thus...
A ‘week’s pay’ can legally be capped at £350, so even if you earn more, you aren’t entitled to it under the statutory payment.
You may have heard the £350 weekly limit was increased to £380 in the Apr 09 Budget, yet it will not apply until 1 October 09. Anyone made redundant after this date will be eligible for the increased amount though.
Plus it isn’t the age you are now that counts, but the age during each year you’ve been in your job. Here’s an example to explain:

Bob’s been a builder with CanYouFixIt Construction for 8 years earning £300 a week. Now, aged 45 he’s been made redundant.

As he worked there for four years aged under 41, he gets a week for each of those. And he did four years aged 41 or older so he gets a week and a half for those. Thus overall he’ll get ten weeks payout of £300, which is £3,000.

To work out exactly what you’re entitled to use the government calculator.

Hope this helps with you money question. I don't know the answer about JSA .

By paying you in lieu of notice your employer is effectively buying your right to have notice from you. Therefore you can start working for a new employer immediately.

getmore4less

cabunny wrote: »

Hi I would be grateful if anyone can answer my queries.
With regards to the £350 max weekly payment for statutory redundancy payments, is this full time equivalent? I work 0.5 pt so would my max weekly payment be £175? (i.e. 0.5 x 350)

Also, I am entitled to 8 weeks notice but my last day will be 31 July, so I will get about 5 weeks pay in lieu of notice. Does this mean I will not be able to claim JSA or anything for the 5 weeks i have effectively been paid for? Can I still take on temp work though in that period?

thanks for any advice!

It is not full time equivilent it is your weekly wage capped at £350 so if yopu earn over £350, no mater how many hours you do, you get £350

I think the rules on JSA changed so you are now eligable as long as your contact has been terminated early and you have peen given PILON.

you do need to be following the other rules like actualy looking for work.

pixiesmum

As regards to JSA....

You can sign on for CONTRIBUTION based jsa, this will be for a maximum of 6 months, does not affect any savings you have, any redundancy you will be paid, or anyone elses income in your household. ie, if you have a partner who works, it will not be affected. This is a base limit of £64.40 p/w. Hope this helps.