how does redundancy payments work

hanhol | 22:34 Thu 20th Nov 2008 | Jobs & Education

4 Answers

i have been working for a company for 10 years.the last 4 years i have worked within a job share sheme / proior to that it was full time..we have been advised that there may be redundnacies issued, how does the finance pay off work for the length of time ive worked..?
thanks

how clever do you have to be to be a marine biologist?

National Minimum Wage

Answers

1 to 4 of 4

Best Answer

No best answer has yet been selected by hanhol. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

buildersmate

You have continuous length of service of ten years so any statutory redundancy payment will be based on that length of service.
Bear in mind that many organisations provide more compensation than the statutory minimum. (Virtually) all base payments on a formula that includes length of service.

hanhol

Question Author

interesting, how does the maths for that work? is it monthly wage multiplied by length of service?

mandimoo

more like a weeks salary for each year

buildersmate

The statutory amount is described on this website - it also depends on one's age.
http://www.berr.gov.uk/whatwedo/employment/emp loyment-legislation/employment-guidance/page33 157.html

1 to 4 of 4

Do you know the answer?