How much is redundancy pay in Northern Ireland?
The amount payable is dependent upon age, length of service and contractual earnings. Up to the age of 21: half a week’s pay for each completed year of service; 22 to 40 years of age: one week’s pay for each completed year of service; 41+ years of age: one-and-a-half weeks’ pay for each completed year of service.
What am I legally entitled to if made redundant?
If you are an employee with at least two years’ service in your job, you are entitled to a statutory redundancy payment. The law sets a minimum payment. This is normally paid by your employer, but the State will pay if your employer has gone bust.
How much notice does my employer have to give me for redundancy?
The statutory redundancy notice periods are: at least one week’s notice if employed between one month and 2 years. one week’s notice for each year if employed between 2 and 12 years. 12 weeks’ notice if employed for 12 years or more.
Do you pay NI on redundancy?
If you do not work your full notice period a part of any severance, enhanced redundancy or non-cash benefits may count as notice pay. This means you will pay tax and National Insurance on them.
Can you be made redundant immediately?
You can be made redundant if the business closes down where you work. This is a genuine reason for redundancy. If you’ll have been working for your employer for at least 2 years by the time you leave your employer should see if they can offer you a different job.
Should I wait for redundancy or leave?
Don’t leave early unless your employer agrees – otherwise you’ll have resigned and won’t get your redundancy payment. If you want to leave early because you’ve found another job you could also ask your new employer if they’ll let you start later. Starting later could be better than losing your redundancy pay.
Can you be made redundant if your job still exists?
Although there are many reasons for legitimate redundancy, it’s illegal for you to be made redundant whilst your job still exists. Therefore, if you think someone else has taken your job after you’ve been made redundant, seek professional advice immediately.
Do you pay NI on redundancy pay over 30000?
You do not have to pay any NIC at all on redundancy payments (even if over £30,000), but if the redundancy payment is part of a package, some of the other amounts in the package may be both taxable and subject to NIC.
What is unfair selection for redundancy?
What is unfair redundancy? Unfair dismissal occurs when an employer has not followed a fair redundancy process. You should always speak to employees directly about why you have selected them and look at any alternatives to redundancy.