How much redundancy pay do you get?
How much is redundancy pay?
| Your Age | Redundancy Pay |
|---|---|
| Under 22 | Half a week’s pay for each full year of employment |
| 22 to 40 | One week’s pay for each full year of employment |
| Above 41 | A week and a half pay for each full year of employment |
Can I bring a friend to a redundancy meeting?
Your employer might let you bring someone with you to your redundancy meetings – for example someone from your union or HR. It can be helpful to have someone there to take notes and support you. If this isn’t mentioned in your redundancy process, ask your employer if you can bring someone.
What is an s188 letter?
A standard letter to be sent to elected employee representatives or representatives of a recognised trade union explaining their roles and duties where there are proposed collective redundancies and the duty to consult under section 188 of the Trade Union and Labour Relations (Consolidation) Act 1992 arises.
Do I pay tax on redundancy?
These are payments normally made as part of the employment, i.e. wages and salary. They are not the same as a statutory redundancy payment, which is made on termination to compensate the employee. The statutory redundancy payment itself is tax free, but other payments of earnings will not be.
How long before a redundant position can be filled?
Therefore, generally, you should not recruit into a role that you have made redundant for a minimum of 6 months after the termination date of the employee. For broader guidance on redundancy, we recommend reading our comprehensive guide which covers all aspects to consider when making redundancies in your business.
Can I work straight away after redundancy?
A Typically there are no restrictions on you taking up employment after you are made redundant. The trouble is that some employers often stipulate that you do not take up any employment for, say, three months after you accept the severance package.
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What does FSRU S188 stand for?
EARLY TERMINATION FSRU S188 CHARTER PARTY Reference is made to the charter party between EXMAR and GUNVOR, in respect of the floating regasification barge (FSRU S188) which is the subject of ongoing arbitration proceedings. EXMAR received a notice of early termination from charterers, GUNVOR.
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Do I need a section 188 letter for a fixed term contract?
You will be aware that from 6 April 2013, any fixed term contract that has reached the specified end date of the contract is excluded from the collective redundancy consultation obligations, and there is therefore no requirement for a Section 188 letter in relation to the post(s) of X.