Trying to work out final package

Poppy2015

I'm currently in a position where my role no longer exists. I'm trying to work out my final redundancy package and hope someone can confirm the way I'm reading things!

The company are offering to double the statutory which is great. I've been with the company just over 10 years and have been told that they have to give a week's notice for every year I've been there. They seem to want us gone as quick as possible so am I right in thinking that it would be say 10 weeks statutory, 10 weeks enhanced PLUS 10 weeks PILON? Is that correct? So 30 weeks payment in total?

AndyBSG

Depends on your age.

If you're 22-41 then you get one week for each year so would get 10 weeks or 20 if they're doubling it.

If you're over 41 then you'd get 1.5 weeks per year so would be looking at 15 weeks, 30 if they double it.

Not sure about the bit regarding PILON though as it depends on how long you have been working there and is capped at 12 weeks. They may not even offer PILON and insist you work your notice and the PILON is unlikely to be tax free. Also, they may have their own notice period written into your contract which, if it's longer than the statutory one must be honoured(i.e. one month)

There's info on notice periods here http://www.nidirect.gov.uk/redundancy-selection-and-notice-periods

getmore4less

Only full years over 41 attract the enhanced statutory rate.