Redundancy payments – changes to age limits
Alongside the new age discrimination regulations that came into force from 1 October, the upper and lower age limits for redundancy pay have been changed.
The upper age limit and lower age limits on redundancy have now been removed, and statutory redundancy is now calculated on the following basis:
- Up to the age of 21 - 0.5 week’s pay for each completed year of service
- 22 - 40 years of age - 1 week’s pay for each completed year of service
- 41+ years of age - 1.5 weeks’ pay for each completed year of service.
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