I am 69 years old and work for a Charity.
2007-02-23 20:24:35 · 5 answers · asked by alanwyle 1 in Business & Finance ➔ Taxes ➔ United Kingdom
Sorry to hear you are being made redundant
If you were made redundant from 1 October 2006, statutory redundancy pay is worked out as follows:
1½ week’s pay for each complete year of employment when you were aged 41 or over
1 week’s pay for each complete year of employment when you were aged between 22-40 inclusive
½ week’s pay for each complete year of employment when you were aged under 22.
So in your case, if you are 69 and assuming that you have 11 complete years service, you will get a minimum of 11 x 1½ week’s pay (equal to 16 ½ weeks pay)
It is best to seek advice from your local Citizens Advice Bureau to make sure that you are afforded all your rights and that you have not been discriminated against. Further to this, the CAB will advise as to what benefits you can claim
The following link will help you find your local CAB
http://www.citizensadvice.org.uk/index/getadvice
Make sure you get advice, as this is a major life event and you could easily miss out. Good luck for the future
2007-02-23 20:36:15 · answer #1 · answered by scareyd 3 · 2⤊ 0⤋
The rules on redundancy are you get so much for having worked for 2 years or more then so much per year, sorry that is all I know but I will check the web and if I find anything helpful ,will add.I have tried to find some info and I think your best bet is job centre plus. I have a suspicion that there is a rule about being over 65. Anyway good luck and enjoy your retirement, you have pension credits as well!
2007-02-24 04:33:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You maybe able to negotiate a higher figure than the capped £310
The company I work for (at the moment) has agreed to pay 3.5 times that figure.
EDIT:... Cut off age for redundancy payment is 64 years old.
Look on www.dti.gov.uk
2007-02-25 08:32:58 · answer #3 · answered by knowitall 4 · 0⤊ 0⤋
Before you spend all the money you might want to make sure that your age does not affect the calculation. At one time, if you were past retirement age, the statutory amount was scaled back. I have been out of the UK for too long to know if this is still the case.
2007-02-25 16:09:26 · answer #4 · answered by skip 6 · 0⤊ 0⤋
Just one point to add to scareyd's excellent answer. The weekly wage used in the calculation is capped at £310. Don't know if this affects your figures.
2007-02-24 20:06:59 · answer #5 · answered by tringyokel 6 · 0⤊ 0⤋