How is the redundancy payment calculated?
The payment is calculated using the statutory redundancy calculation table and then multiplying the result by three (for teachers, the statutory redundancy calculation is used). We use actual week’s pay (annual salary divided by 52) rather than the statutory capped figure of a maximum of £380 per week. You can use the information in the ‘calculating a redundancy payment’ fact sheet (see downloads) to estimate what you would be entitled to. You can request a formal estimate from HR if you are ‘at risk’ of redundancy.
Related Questions
- If I have had a break in service is my redundancy payment calculated on the total years and months worked, or is it just the current period of work after the break?
- How is the TEP incentive payment calculated and when can I expect payment?
- What is the employee’s right to a statutory redundancy payment?
