Employees who have at least two years continuous service qualify for a redundancy payment.
A weeks pay is that to which the employee is entitled under his or her terms of contract. The maximum statutory limit will increase from £ 350 to £380 with effect from 1st October.
The maxium weeks pay figure is generally reviewed annually however the £380 limit will continue until 1st February 2011. Employers may, of course, pay in excess of the statutory minimum.