Source: XpertHR P&D Date: 01/02/2008 Publisher: XpertHR

Redundancy: Policy on enhanced redundancy payments (policy)

TOPICS:
pay and benefits statutory rates and benefits
termination of employment  redundancy
payments on termination

AUTHOR: Claire Birkinshaw


Policy wording: Employees who are dismissed for redundancy and who have a minimum of two years' continuous service with the Company will normally be entitled to be paid statutory redundancy pay, which is calculated according to the individual employee's age, length of service and gross weekly pay subject to a statutory maximum. Entirely on a discretionary basis, the Company may also offer an enhanced redundancy payment that is based on the statutory redundancy payment calculation.

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