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Redundancy payment

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Source: XpertHR statutory rates

Date: 01/10/2009

Publisher: XpertHR

Redundancy payment

TOPICS:

pay and benefits	statutory rates and benefits
termination of employment	redundancy

How much can an individual get?
The Employment Rights Act 1996, section 162 sets out how a redundancy payment is calculated:

First, determine the period, ending with the relevant date, during which the employee has been continuously employed.

Then work backwards from the end of that period, to calculate the number of complete years of employment falling within that period.

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