Actual redundancy now, not just me, quick question

[Deliaskis]

Hi there,

I posted last week when I had been told my position wa slikely being put at risk.

There has this morning been a company announcement, that everybody is at risk and will have then 10 day consultation then be put on notice, with a view to the company being closed at the end of this.

I'm fine with this, it is not unexpected. My question relates to redundancy payment. I had been under the impression that the statutory minimum was 1 week's pay for each year you have worked (this is in our personal manual). However, today, it was mentioned that it was £430 for each year worked.

Can anyone please advise? I am assuming maybe the week/year worked is maybe the 'in ideal circumstances when the company is not about to be declared bankrupt', minimum, and the £430 is the actual minimum.

If anyone can just clarify, I would be really grateful.

Thanks
D

there's a cap on the payment i'm afraid.

Only full years of service are taken into account when calculating statutory redundancy entitlement (up to a maximum of 20 years).

And £400 is the current maximum weekly pay (before tax) when calculating statutory redundancy entitlement.

£430 is the new minimum (coming into effect on 1 Feb).

This direct.gov page has useful info about companies becoming insolvent.

OK thanks, that clarifies. I think the one week/year worked must have been contractual, and based on the company still continuing to operate.

Ta maybenow

D

Maximum - not minimum!

Thanks also meditrina , will have a good read of that.

How many of you are there? If more than 20 there are minimum statutory consultation rights. A failure on the employer's part to comply without good reason could put you in a better position.