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Make a statutory redundancy payment
Key points
Where an employer is dismissing an employee for redundancy, it should determine whether or not it is required to pay the employee a statutory redundancy payment.
To be eligible for a statutory redundancy payment, the employee must have at least two years' continuous service.
The employer should calculate the amount due to the employee on the basis of a formula set out in the legislation, which is based on the employee's length of service (subject to a maximum amount), salary (subject to a maximum amount) and age.
This resource is kept under review and updated in line with developments.
Publisher
XpertHR
Redundancy pay calculator
Does the impact of the coronavirus mean your organisation is planning redundancies? Use the redundancy pay calculator to work out your statutory redundancy payment liabilities.
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