Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Sunday, 1 February 2009
The exact mathematical calculation for working out statutory redundancy pay
To work out the exact statutory pay entitlement of an employee, 3 items of information are needed
The date of birth of the employee
His or her length of service
His or her gross annual salary
The calculation is
A weeks pay (current statutory maximum = 350 pounds a week pay from February 2009)
Multiplied by
0.5 week?s pay for each full year of service where age during year less than 22
weeks pay for each full year of service where age during year is 22 or above, but less than 41
1.5 weeks? pay for each full year of service where age during year is 41+
No more than the last 20 years service can be taken into account
The date of birth of the employee
His or her length of service
His or her gross annual salary
The calculation is
A weeks pay (current statutory maximum = 350 pounds a week pay from February 2009)
Multiplied by
0.5 week?s pay for each full year of service where age during year less than 22
weeks pay for each full year of service where age during year is 22 or above, but less than 41
1.5 weeks? pay for each full year of service where age during year is 41+
No more than the last 20 years service can be taken into account
Labels: redundancy payment calculation
# posted by michael @ 09:00 
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