redundancy entitlement

oliel

worked for a company since 2008 aged 35 at the time if i get made redundant what would the redundancy be - salary 50k,  Thanks

TadleyBaggie

https://www.gov.uk/calculate-your-redundancy-pay

elsien

What does your contract say about redundancy - statutory minimum or do they pay more? 

Cobbler_tone

Lots of variables. As an example....if you are on statutory redundancy terms, aged 52, completed 17 years service and earn exactly £50,000 per year, you would get 22.5 weeks at £21,634 (tax free under £30k).

The most important thing is that you should receive formal 1-1's with a redundancy quote, although it should be very easy to get hold of your redundancy terms and they should be proactively supplied to you.

Things like overtime, holiday position, actual length of service and age should enable you to pretty much work it out yourself.
For example, my company enhances everything by 3, so 3 weeks per year to 41, then 4.5 weeks per year and maxes out at 25 years service.  

london21

elsien said:

What does your contract say about redundancy - statutory minimum or do they pay more? 

Contract does not always say it as i am going through same and it mentions payment in leiu, garden leave etc not specifically what you would get in redundancy. Statutiry isnt that generous but coompany offering enhanced 2 weeks for every yearand signing the settlement agreement. “protected conversation,” “without prejudice” and/or “off the record” discussion) 

london21

oliel said:

worked for a company since 2008 aged 35 at the time if i get made redundant what would the redundancy be - salary 50k,  Thanks

Hopefully you get a fair package. Contract does not always say it as i am going through same and it mentions payment in leiu, garden leave etc not specifically what you would get in redundancy. Statutiry isnt that generous but coompany offering enhanced 2 weeks for every yearand signing the settlement agreement. “protected conversation,” “without prejudice” and/or “off the record” discussion) 

MattMattMattUK

london21 said:

elsien said:

What does your contract say about redundancy - statutory minimum or do they pay more? 

Contract does not always say it as i am going through same and it mentions payment in leiu, garden leave etc not specifically what you would get in redundancy. Statutiry isnt that generous but coompany offering enhanced 2 weeks for every yearand signing the settlement agreement. “protected conversation,” “without prejudice” and/or “off the record” discussion) 

An employer can always choose to enhance redundancy to smooth the process, but statutory is the baseline and contractual can be higher. PILON and/or Garden Leave are there to allow the employer to protect themselves if they need to, not for the benefit of the employee, although it can benefit both. 

prowla

TadleyBaggie said:

https://www.gov.uk/calculate-your-redundancy-pay

https://www.gov.uk/redundancy-your-rights/redundancy-pay

Cobbler_tone said:

Lots of variables. As an example....if you are on statutory redundancy terms, aged 52, completed 17 years service and earn exactly £50,000 per year, you would get 22.5 weeks at £21,634 (tax free under £30k).

The most important thing is that you should receive formal 1-1's with a redundancy quote, although it should be very easy to get hold of your redundancy terms and they should be proactively supplied to you.

Things like overtime, holiday position, actual length of service and age should enable you to pretty much work it out yourself.
For example, my company enhances everything by 3, so 3 weeks per year to 41, then 4.5 weeks per year and maxes out at 25 years service.  

From the above link:

If you were made redundant on or after 6 April 2025, your weekly pay is 
capped at £719 and the maximum statutory redundancy pay you can get is 
£21,570. If you were made redundant before 6 April 2025, these amounts 
will be lower.

Cobbler_tone

prowla said:

TadleyBaggie said:

https://www.gov.uk/calculate-your-redundancy-pay

https://www.gov.uk/redundancy-your-rights/redundancy-pay

Cobbler_tone said:

Lots of variables. As an example....if you are on statutory redundancy terms, aged 52, completed 17 years service and earn exactly £50,000 per year, you would get 22.5 weeks at £21,634 (tax free under £30k).

The most important thing is that you should receive formal 1-1's with a redundancy quote, although it should be very easy to get hold of your redundancy terms and they should be proactively supplied to you.

Things like overtime, holiday position, actual length of service and age should enable you to pretty much work it out yourself.
For example, my company enhances everything by 3, so 3 weeks per year to 41, then 4.5 weeks per year and maxes out at 25 years service.  

From the above link:

If you were made redundant on or after 6 April 2025, your weekly pay is 
capped at £719 and the maximum statutory redundancy pay you can get is 
£21,570. If you were made redundant before 6 April 2025, these amounts 
will be lower.

Good info in your snip. Thankfully I haven't had to deal with statutory RP. Our is based on average wages (cap is removed) and 3 x the minimum, maxing at 25 years service. i.e. the max at age 64 for 25+ years service is 109.5 weeks pay.

Your info of course brings my £21,634 down....to £16,177 (£719 x 22.5)