Hi - My husband has worked full time for the same company for 27 years. His age is 53. Do you have any idea of the rules and regs of redundancy pay. ie. how many weeks/months they would have to pay as a statutory minimum and how much per week etc? Thanks. Dollie x
2007-02-21 00:07:41 · 10 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
The redundancy payment due to each employee under the statutory redundancy payment scheme depends on his or her age and length of service (up to twenty years). This determines the number of weeks pay due, which is then subject to a limit on weekly pay.
To calculate the number of weeks pay due, you should use the following amounts –
0.5 week’s pay for each full year of service where age during year less than 22
1.0 week’s pay for each full year of service where age during year is 22 or above, but less than 41
1.5 weeks’ pay for each full year of service where age during year is 41+
Go to the link below to get a calculation according to your particular circumstances - of course, this is STATUTORY pay, an employer must give this as a minimum, many employers may offer different schemes, and of course you would have to be made redundant, not retire or be dismissed!! The rules about redundancy are another can of worms....
hope this helps
2007-02-21 00:14:58 · answer #1 · answered by ? 7 · 0⤊ 0⤋
The statutory minimum is one week for every year he has been there, however, if he is being made redundant due to the company having financial problems, he may not get anything, this happened to my mother and she had to apply to the National Insurance fund for some money and the payout was nowhere near what she would have had ahd the company funded the redundancy, even at legal minimum. If he's being made redundant then the company shoud be presenting the package at the same time as announcing the redundancies
2007-02-21 00:21:36 · answer #2 · answered by SunnyDays 5 · 0⤊ 1⤋
the united kingdom rules is that in case you're employed for below 2 years then the enterprise would not could supply you notice and any redundancy pay - they are going to basically could pay what's as a results of you in terms of income and flow away amassed. After 2 years employment you're then given the minimum statutory value required via the government - i.s: a million week in line with year labored. this could advance yet relies upon on your age. seem on the region below - it additionally advises what techniques your boss has to stay with - as a fashion to no longer create a undertaking the place you're classed as "unfair Dismissal"
2016-10-02 12:01:20 · answer #3 · answered by missildine 4 · 0⤊ 0⤋
You have to be there for 2 years. It is a one of payment that works out at one week's pay for every year you have been there. As your husband has been there for 27 years he will get a one of payment of 6 months pay - if he is lucky. Some people have to really fight to get just a penny from the company administrators.
2007-02-21 00:16:16 · answer #4 · answered by k 7 · 0⤊ 0⤋
Check out this link (http://www.dti.gov.uk/employment/employment-legislation/employment-guidance/page15686.html)
Something to be careful of is that the company is following the law. The role must be being made redundant, rather than the person and opportunities for redeployment must be explored (this means that if there was a different job available that your husband could do and wanted to do - he must be given an equal opportunity with everyone else to apply for the role)
2007-02-21 00:17:14 · answer #5 · answered by orangutan11_1967 1 · 0⤊ 0⤋
It depends on his contract and his position in the company. Some companies have generous redundancy pay and bonuses while others can fire people who worked there their whole life without a second thought just because they decide to change their management strategy.
2007-02-21 00:12:34 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Its usually a week of the pay that they are on now for every year that they've been employed up to a max of 13 weeks.
2007-02-21 00:13:17 · answer #7 · answered by Nicky D 1 · 0⤊ 0⤋
The rules to redundancy are a minefield. It all depends on type of business, length of contract typr of contract e.t.c e.tc. but check out htis website for information
http://www.adviceguide.org.uk/index/life/employment/redundancy.htm
2007-02-21 00:13:42 · answer #8 · answered by Malcolm M 2 · 1⤊ 0⤋
Follow this link to the DTI website, it gives you the calculations.
2007-02-21 00:12:50 · answer #9 · answered by Anonymous · 1⤊ 0⤋
I think it is one months sallery for every year that you have been there?
2007-02-21 00:12:09 · answer #10 · answered by djp6314 4 · 1⤊ 0⤋