how much redundancy will i get

how much redundancy will i get

1 month ago 4
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The amount of redundancy pay you will get depends on your age, your weekly pay before tax, and how many full years you have worked for your employer (capped at 20 years). The redundancy pay calculation is generally:

  • Half a week’s pay for each full year you were aged under 22,
  • One week’s pay for each full year you were aged 22 to 40,
  • One and a half weeks’ pay for each full year you were aged 41 or older.

Your weekly pay is typically calculated as an average over the 12 weeks before you receive notice, with a maximum weekly pay cap (currently £719, increasing annually). The total redundancy pay is capped at 20 years of service, and there is an overall maximum statutory redundancy pay limit (around £21,570 as of now). If payment in lieu of notice was given, the calculation might include an adjustment to your length of service accordingly. Your employer should inform you of the redundancy pay amount and payment date when your employment ends.

If you provide your age, weekly pay, and years of service, a more precise calculation can be made.

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