Statutory Redundancy Payment: Who Qualifies and What You Get
If your job is being made redundant, find out if you are entitled to a lump sum payment based on how long you have worked for your employer.
A Statutory Redundancy Payment is a lump sum of money provided to workers when their employment is terminated because their role is no longer required.
Who it's for
To qualify for this payment, you must have worked for your employer for at least two years of continuous service.
What you get
You receive a single lump sum payment. The total amount you receive depends on how many years you have been working for your employer.
What it costs you
There is no direct cost to you to receive this money, but the process must be started by your employer.
The catch to know
This payment is specifically for redundancy. It does not apply if you are fired or dismissed due to misconduct.
How to apply
- Confirm with your employer that your role is being made redundant.
- Ensure your employer initiates the process.
- Check with your employer or the relevant government body regarding the specific calculation of your payment.