Redundancy Compensation (Maximum)?

Gatser

I know what the statutory minimum is, but how much is paid by "Fair" employers who accept the true loss to the employee?

ie. If someone has worked 10 years, and done a good job, how many weeks/months money should they get per year of service?

I realise that this is often given under a (secret) compromise agreement...just interested on your views as to what you think is FAIR?
thanks

bendix

The statutory minimum. That is what it's for. Why would an employer voluntarily pay more?

pelirocco

Gatser wrote: »

I know what the statutory minimum is, but how much is paid by "Fair" employers who accept the true loss to the employee?

ie. If someone has worked 10 years, and done a good job, how many weeks/months money should they get per year of service?

I realise that this is often given under a (secret) compromise agreement...just interested on your views as to what you think is FAIR?
thanks

it wouldnt be in a secret agreement , it would be written into their terms and conditions .
Given that employees more ofthen then not are made redundant due to financial reasons there wont be many employers paying more then they have to

Pete111

Lots of employers pay more Bendix - In fact thinking about it, I've only ever worked for firms that do.

The statutory weekly cap on earnings is a joke for middle to high earners and some firms simply have more respect for their staff than others in this regard

That said, unless there is a overt policy in place re redundancy payments employers are entitled to pay the minimum no questions asked - the exeption to that is where it can be proven at tribunal that there exists a clear, consistent but unwritten policy of making enhanced payments. In this case the tribunal may decide this is enough to consitute an 'implied term and condition' (though it would be hard to prove)

P

motorguy

Gatser wrote: »

I know what the statutory minimum is, but how much is paid by "Fair" employers who accept the true loss to the employee?

ie. If someone has worked 10 years, and done a good job, how many weeks/months money should they get per year of service?

I realise that this is often given under a (secret) compromise agreement...just interested on your views as to what you think is FAIR?
thanks

I got 3.5 weeks per year with Abbey, based on the average of the last 10 weeks pay - i was in the IT department so we did a lot of on call and overtime.

greenbee

I was given 5 weeks for every year last time I was made redundant, and despite being in a more senior role this time, am getting two weeks for every year. I think a lot of people on older contracts probably have better redundancy clauses.

Quite a few employers have used the age discrimination legislation to cap anything based on length of service, on the basis that (according to them) it might be unfair to reward someone for 40 years service when someone else is too young to achieve a similar status. I know my current employer caps redundancy on my contract (may be different for older ones, or those on other grades) and the equivalent to 52 weeks (i.e. one year's) pay.