Did You Know? Statutory Redundancy Pay in the UK | Consensus HR in Herts & Beds
Did You Know? – HR Fact
When it comes to redundancy, many business owners are unaware of the exact legal requirements.
Under UK law, statutory redundancy pay is calculated based on age, length of service, and weekly pay (capped at £700 from 6 April 2024). Employees must have at least two years’ continuous service to qualify.
This means:
1.5 weeks’ pay for each year of service over age 41.
1 week’s pay for each year between ages 22 and 40.
0.5 week’s pay for each year under age 22.
📌 Employers should ensure they calculate redundancy entitlements correctly to avoid legal disputes.
Comment from Matthew Chilcott – Owner of Consensus HR:
“Many SMEs don’t realise how statutory redundancy pay works until they’re in the middle of a restructure. At Consensus HR, we ensure our clients are fully prepared and compliant, helping them avoid costly mistakes.”
🔗 Learn more about redundancy and HR compliance here: Consensus HR Services
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