Company gone bust...what am i entitled to?

BargainHunter27

The company i work for has today gone into administration, we have a meeting tomorrow to be told what we are entitled to, just wondering if anyone can give me a heads up on what to expect.

How many weeks redundancy pay? i have been there almost 4 years(I gather they only take full years into consideration)

Ive heard the term notice in lieu banded about but not sure what this means (we only found out today and were sent home so we didnt get any notice)

And what holiday pay, our company works holidays jan-dec so i gather i would be entitled to almost half a years holidays?

Thank you in advance for you advice

Johno100

Have a look on The Insolvency Service website, go to publications, then 'Information about Redundancy Procedures and then 'A Guide for Employees' (sorry I can't do links, i'm new here).

The guide on there should answer all your questions plus a few you have not thought of.

keith1950

Hi, under the government statutory redundancy , if you are 22 - 41 you will be entitled to 3 x1 weeks redundancy (which is not taxed ) and 3 x1 weeks lieu of notice ( which does have ni and tax deducted ) and you will not be able to claim job seekers until these 3 weeks lieu of notice has elapsed. You get each week at your normal weekly rate up to max of £400/week.
If you are under 22 you only get 0.5 weeks per year and if over 41 you get 1.5 weeks per year redundancy.

McKneff

and yes, you should be paid for any accrued holiday that you have not taken.

I know its a bit of a shock so take you time to let it sink in.

I remember crying for a week.:eek: when it happended to me.

Good luck in your job hunting.

ShaneUK

keith1950 wrote: »

Hi, under the government statutory redundancy , if you are 22 - 41 you will be entitled to 3 x1 weeks redundancy (which is not taxed ) and 3 x1 weeks lieu of notice ( which does have ni and tax deducted ) and you will not be able to claim job seekers until these 3 weeks lieu of notice has elapsed. You get each week at your normal weekly rate up to max of £400/week.
If you are under 22 you only get 0.5 weeks per year and if over 41 you get 1.5 weeks per year redundancy.

Bizarre.

I know that this would be set by a government agency - but technically, isn't that age discrimination!!

hcb42

No



well not unless a 22-40 year old can claim a pension

patanne

I think now you should sign on straight away. They will also pay you as soon as they can and when the insolvency people have got things sorted they write & ask how much you received and deduct it from what they in turn pay you. Hopefully you'll get a job immediately & get all of it intact. Good luck.