How much redundancy will I get from my employer?

How much redundancy will I get from my employer?

For each full year you’ve worked for your employer, you get: up to age 22 – half a week’s pay. age 22 to 40 – 1 week’s pay. age 41 and older – 1.5 weeks’ pay.

How do you calculate redundancy pay for part time workers?

Pay is calculated as half a week’s pay for each year up to age 21, one week’s pay for each year between 22 and 40, and one-and-a-half week’s pay for work over the age of 41. Pay depends on what the employee is earning at the time of the redundancy, or the statutory limit, whichever is the lower.

How do you calculate weekly pay for redundancy?

What is a “week’s pay” when calculating the entitlement to a redundancy payment? In general, a week’s pay will be calculated by taking the annual salary and dividing that sum by 52 weeks.

Do I get redundancy if I work part time?

A part time employee is entitled to statutory redundancy pay. There is no minimum hours requirement to become entitled to this payment, therefore an employee who is employed to work as little as, for example, 2 hours a week for you, is still entitled to statutory redundancy pay.

How to calculate redundancy pay and entitlements?

Redundancy pay and entitlements – Redundancy – Fair Work Ombudsman Redundancy pay & entitlements When an employee’s job is made redundant their employer has to give them redundancy pay, also known as severance pay. Use our Notice and Redundancy Calculator to calculate redundancy pay.

Can a company pay more than statutory redundancy?

Some employers may pay more than the statutory amount, known as ‘ enhanced redundancy pay ‘. How is statutory redundancy pay calculated? Your statutory redundancy pay is based on your pre-tax salary, your age and how long you’ve worked for your employer.

How is redundancy pay calculated when you are on furlough?

Your weekly pay is the average you earned per week over the 12 weeks before the day you got your redundancy notice. If you were paid less than usual because you were ‘on furlough’ because of coronavirus, use what you would have earned normally when calculating your redundancy pay, not what you were paid while on furlough.

How can I vary my redundancy pay if I lost my job?

the employer can’t afford the full redundancy amount. For more information, check the application to vary redundancy pay form on the Fair Work Commission website . Think a mistake might have been made? If you’ve lost your job, contact the Fair Work Commission (the Commission) first if you think you were sacked because of: another protected right.

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