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The amount of redundancy pay the employee gets is based on their continuous service with their employer. Continuous service is the length of time theyre employed by the business and doesnt include periods of unpaid leave.
If your employer isnt insolvent If they agree that you are, you can make a claim for your statutory redundancy pay through the Redundancy Payments Service. You should get help from an adviser if you need to claim your statutory redundancy pay when your employer isnt insolvent.
Redundancy occurs where an employees position ceases to exist and the employee is not replaced. Any employee aged 16 or over with 104 weeks continuous service with an employer is entitled to a statutory redundancy payment in this situation.
redundancy payment | Business English money that a company pays to workers who have lost their jobs because they are no longer needed: eligible for/entitled to a redundancy payment An employee becomes eligible for a redundancy payment after two years continuous employment. claim/seek a redundancy payment.
Employees receive redundancy pay based on their continuous period of service with their employer. This amount is paid at the employees base pay rate for ordinary hours worked.
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Redundancy payments and Universal Credit With Universal Credit, redundancy payments are treated as capital. Capital includes things such as savings and investments. If you and your partner (if applicable) have capital (including savings) over 16,000 you will not be able to get Universal Credit.
Calculating how many weeks of redundancy pay is due 1 and a half weeks pay for each full year they were aged 41 years or older. 1 weeks pay for each full year they were aged 22 or older, but aged under 41. half a weeks pay for each full year they were aged under 22.
Youll get: half a weeks pay for each full year you were under 22. one weeks pay for each full year you were 22 or older, but under 41. one and half weeks pay for each full year you were 41 or older.

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