Contract end date and redundancy entitlement
Comments
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As you currently have 32 years of service your termination date will be at the end of the 12 week notice period.
Statutory redundancy pay is capped at 20 years but some employers pay for more or all complete years of service.
So, whether you'll be entitled to more redundancy pay will depend on your contractual terms.0 -
We get an enhanced package, qualifying service is rounded down to the whole year which is why that week is worth a lot more than a weeks salary to me!0
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I would expect your statutory notice of 12 weeks, puts you into the next year of service, should entitle you to the 33rd year. Have you asked HR (nicely) to clarify? If they say no or argue, you could then get a little meaner about it...0
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I would expect your statutory notice of 12 weeks, puts you into the next year of service, should entitle you to the 33rd year. Have you asked HR (nicely) to clarify? If they say no or argue, you could then get a little meaner about it...0
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We get an enhanced package, qualifying service is rounded down to the whole year which is why that week is worth a lot more than a weeks salary to me!
With an enhanced package they can use any calculation they like as long as it gives more then statutory and does not fall foul of secondary legislation like age discriminion .
Many companies use the statutory definition of service(with or without the 20y cap ) as the basis for the service element of enhanced packages.
It is a reasonable request to have the statutory notice counted should you get formal notice and terminated before the anniversary.
With Garden leave you remain employed(so should be no problem with the service) but this can risk the redundancy as they can withdraw the redundancy or find a suitable alternative at any time.
PILON gives a clean break sooner.
You will know the sort of company you work for when it comes to dealing with this sort of thing, I would probably wait a bit to see how it pans out on real dates then query if they don't add the year.
there comes a time when cashing in service at enhanced rates is worth far more than keeping a job.
Make sure you know the terms should you end up getting a job back with the company after termination, some companies have long clawback clauses.0
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