Estimate your statutory redundancy payment based on age, length of service and weekly pay.
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How This Works
2024/25 statutory redundancy: 1.5 weeks' pay per year of service (aged 41+), 1 week (aged 22–40), 0.5 weeks (under 22). Maximum 20 years of service counted. Weekly pay capped at £643 (2024/25). Maximum statutory payment = £19,290. First £30,000 of redundancy pay is tax-free. Employees need 2+ years' service to claim statutory redundancy.
Statutory redundancy is the legal minimum — the formula above. Enhanced (contractual) redundancy is additional pay some employers offer on top. Common enhancements include: no cap on weekly pay, higher multiplier per year (e.g. 2 weeks per year), no age weighting, additional ex-gratia payment. Check your employment contract and company policy. Enhanced redundancy should be in your contract or collective agreement to be legally binding.