redundancy calculator 2013
DESCRIPTION
Use our 'ready reckoner' to work out how much redundacy pay is due to an employee.TRANSCRIPT
Statutory redundancy pay & basic award calculator
T: 01483 408780E: [email protected]
Setfords Legal Guides For Individuals
T: 01483 408780E: [email protected]: setfords.co.uk
Statutory redundancy pay & basic award calculatorWe have set out a “Ready reckoner” table for calculating the statutory redundancy payment or unfair dismissal basic award due to an employee.
If you require any further advice or assistance about these issues please contact Setfords Solicitors.
How to do it?To calculate the statutory redundancy payment due to an employee (for dismissals from 1 October 2006), use the table to find the multiplier based on the employee’s age and number of complete years’ service, and multiply by the employee’s gross weekly salary, subject to the current maximum (see below).
Current Maximum weekly salary for the purposes of the calculation
Maximum from 1 February 2013 Maximum from 1 February 2012 Maximum from 1 February 2011
£450 £430 £400
For an automatic calculator, see http://www.direct.gov.uk/redundancy.dsb
• Service below the age of 18 and above the age of 65 is now taken into account for calculating both redundancy pay and unfair dismissal basic award.
• There is no longer a tapering down of redundancy pay or basic award after the age of 64.
Employees must still have at least two years’ continuous service in order to qualify for statutory redundancy pay. The maximum payable is set out below:
Maximum from 1 February 2013 Maximum from 1 February 2012 Maximum from 1 February 2011
£13,500 £12,900 £12,000
T: 01483 408780E: [email protected]: setfords.co.uk
T: 01483 408780E: [email protected]: setfords.co.uk
For further advice or information please contact our Employment Law Department on 01483 408780 or [email protected].
This content is for information purposes only and does not constitute legal advice. For detailed legal advice please contact us and we will be happy to assist. No liability can be accepted in relation to any reliance on the content of this guide. Copyright in this publication
belongs to Setfords Solicitors. Extracts may not be copied without our express permission. Setfords Solicitors is a trading name of Meaby and Co Solicitors LLP. Our registered number is OC322672. Our registered office address is 2 Camberwell Church St
Camberwell Green London SE5 8QY. We are regulated by the Solicitors Regulation Authority SRA number 447880
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