Statutory Redundancy Pay Calculator
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Frequently Asked Questions
Statutory redundancy pay is a legal entitlement for employees who have been with their employer for 2 years or more and are being made redundant. The amount is based on your age, length of service, and weekly pay (up to a statutory maximum).
To be eligible for statutory redundancy pay, you must be an employee with at least 2 years of continuous service with your employer. Some exceptions apply, such as if you're in certain types of employment or if you've been dismissed for misconduct.
Understanding Your Statutory Redundancy Pay
Being made redundant can be a challenging experience, but understanding your financial entitlements is crucial. This comprehensive guide explains everything you need to know about statutory redundancy pay in the UK.
What Is Statutory Redundancy Pay?
Statutory redundancy pay is a legal payment that eligible employees receive when they're made redundant. It's designed to provide financial support during the transition period between jobs. The amount you receive depends on three key factors:
- Your age at the time of redundancy
- Your length of continuous service with your employer
- Your weekly pay (subject to a statutory cap)
Eligibility Criteria
To qualify for statutory redundancy pay, you must meet specific criteria:
- You must be an employee (not a contractor or freelancer)
- You must have at least 2 years of continuous service with your employer
- You must be dismissed due to redundancy