Would reduction of hours affect redundancy pay and is there anything I can do?

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The firm I work for is winding down as the partners want to retire. I currently work 38hrs a week and they are talking about me reducing these as the level of work reduces.

I'm worried though about how this would affect any redundancy pay as obviously I would want as much as I could financially as it might take some time to find employment.

Is there a way an agreement can be made on a redundancy package before it is known when I will be made redundant?

Not sure what the legal position is (check ACAS) but I have just been made redundant and my settlement took into account the fact that the first 5 years of my employment were full-time. I think that's the standard approach.

The maximum weekly redundancy pay is £464, would you go below that if you reduced your hours? PS you don't have to agree to reduce your hours but you may find redundancy comes more swiftly in that situation

Thanks,

If redundancy came sooner it wouldn't bother me! I am the only employee left so don't think they'd go down that route!

I'm hoping they will be reasonable and base my redundancy on current working hours etc

That's the maximum statutory rate - employers can offer more generous terms.

Yes, redundancy pay is based upon your length of service, age and weekly gross wage (capped at £464). Some employers are more generous than this though.

I think redundancy legally is worked out on your current hours - of course employers can be more generous and frequently are.

If they do it on the legal minimum it will be £464 for each year you have worked for them, or your current weekly salary if it is less.

Phone ACAS though - I'm no expert. This is based on what I was told when under threat of redundancy.