To ask how much you recieved in redundancy pay

[Paulsinpieces]

I suspect I will be made redundant today.

Been with the employer for just over 2 years. I’m aged 45.

i work in a corporate IT roles: suspect my job will be moved overseas.

can I ask if you have been made redundant from similar role. What type of redundancy package did you get?

Does your organisation not have a redundancy policy? You should have access to this and therefore know your likely payout. Usually related to length of service, with additional payments for over 40 or over 50.

Sorry to hear your going through this, I am risk of redundancy too at the moment.

Does it not depend on your current wage?

I've only ever received statutory plus notice pay. I got 24 weeks because I'd been there 12 years.

Have they not told you what your redundancy pay will be during the consultation process? They should have done.

Or do you mean that you're expecting them to tell you today that your post is at risk?

There is a redundancy pay calculator on the gov.uk website that you can use to calculate your statutory redundancy entitlement. Obviously, it won't tell you about any enhanced redundancy pay that may or may not be offered by your employer.

I'm really sorry that you're in this position. It's rubbish but I'm sure that things will work out OK in the end.

Probably 2 weeks pay as you've not been there long.

But you can use this to find the statutory minimum

https://www.gov.uk/calculate-your-redundancy-pay

Two weeks' pay (if they're feeling generous) for every full year worked. Enhanced by 50% for any years worked while over the age of 40 (don't know if that's a legal obligation).

Sometimes it's just one week's pay for each year worked.

Agree and you can put your details into the gov calculator to see what you'll get if you don't know already.
What others got doesn't really seem relevant for example ive been with employer 17 years I'm mid 40's I'd get £26k because we double the statutory pay.

Good luck today

Statutory is 1 week per year if 2+ years, so she'd get 2 weeks, not 4.

the statutory redundancy pay is not great as it’s capped at £700 per week. Hence why I’m trying to understand what other people have recieved in enhanced pay.

no redundancy policy that I can find for the company

I was made redundant from corporate IT a couple of years ago. I got a little short of a year's salary, once you included PILON, unused holiday pay, bonus for the part of the year i had worked and so on. But I had been there 2 decades and had an enhanced redundancy package.

So it really depends on your contract and whether they offer more than statutory payments or not. If you've been there over two years you are entitled to something, and you can check online what the minimum statutory payment is, and your contract for any enhanced package. Don't plan to retire just yet...

It’s probably going to be statutory - if they paid more than that they’d probably have a policy to outline what they pay.

I don't think asking other people what they got is particularly helpful, as every company is different. The last time I was made redundant it was a month's pay for every year, three months PILON, remaining holiday pay, plus use of an outplacement service. This is pointless for you to know.

It doesn't need matter what others get. It matters what your company redundancy policy is.

Assume you're getting the statutory minimum.

I know 3 people who have had deals from their employers in the last year. My DH and also two of my friends husbands. One got 2 weeks salary as had been there 2 years.The other two were long term employees who were earning decent wages. My DH got a years pay unsure what friends DH got but he has decided to give up work as has my DH, they are both in their late fifties.

But as people point out it is your company policy that counts. As you are over 40 it may be 3 weeks pay minimum.

That is not unusual even in large organisations and ime they will be reluctant to negotiate. They could use discretion to pay over the cap although max 30k is tax free . Statutory redundancy is 1.5 weeks per year over 40, plus notice and accrued leave balance, so unfortunately you will receive relatively little for two years’ service.

After 35 years I took VR and received 2 years salary. Its also worth looking at putting the max you can into your pension as this avoids paying tax on a good amount of the payout. You get 30k tax free and then whatever amount you can pay into pension also becomes tax free.

I've just taken voluntary redundancy and have been there 2 years. I am getting £31k but that is because they have made the package very attractive so that people take it. Some people who have been here 10 years are getting £100k plus!

@Paulsinpieces Statutory is now capped at £719 however the government haven't updated the calculator yet!

You'll get whatever company policy is

If you're going to be made redundant the best you can hope in your circumstances is for is that you get put on gardening leave so you're paid for the rest of your notice period, plus statutory redundancy and any unused AL, but are not expected to attend work so are free to start looking elsewhere or take a break.

But YABU to ask what others would get. In the vanishingly unlikely circumstances I was made redundant, I'd walk away with over £100k, as others have in the past from our organisation, which doesn't help you.

There seems to be a lot of people getting very generous voluntary redundancy / enhanced packages. In my experience these are very rare unless you work in large organisations or local government so just be realistic with your expectations!

Sorry to hear that .. When I was made redundant I got statutory redundancy pay + 1 weeks pay for every year I had been with the Company.

If no redundancy policy or info given then I’d say with almost certainty that all you’ll get is statutory OP, which with only 2 years service will be rubbish, probably 2 weeks pay max.

It's likely that you'll just get statutory if there is no policy/ nothing in your contract.

Sorry!

I got 4 weeks per year worked. I had been there 14 years.