What redundancy money are you entitled to when you retire?
Hi My friends husband is almost 65 and is due to retire is he entitled to redundancy money and if so how would it be calculated as she said she read in a newspaper recently that you are not entitled to redundancy on retirement. Yes I know they are not the same thing thank you for that advice, but I want do know if he is entitled to redundancy on retirement or what is he entitled to on retirement. Your answer was not very helpful.
Public Comments
- redundancy and retirement are not the same thing. If he is retiring he gets his pension and a carriage clock. If he is made redundant he will be compensated. but he is not being made redundant so that is irrelevant
- He would only be entitled to redundancy if he is still employed and redundancy notice was given, before his retirement. The payments depend on a lot of factors. how long he has worked for his employer His age His weekly pay. He has the right to: half a week’s pay for each complete year of employment when he was below the age of 22 a full week’s pay for each complete year of employment when he was between the age of 22 and 40 a week and a half’s pay for each complete year of employment when he was above the age of 41. He can't be given statutory redundancy pay for more than 20 years' employment and there is a cut off point of £330 per week. Employment is counted up to the date his notice runs out. If he hasn't been given any notice, it is the date on which his notice would have run out if he had been given it. This will depend on what notice he is entitled to by law. There is a ready reckoner on the berr website which I have provided the link for below.
