21 or under, one week's pay for each year the employee was between the ages of 22 and 40, and one and a half weeks' pay for each year the employee was 41 or above.
Increase in the Statutory Redundancy Payment
A statutory redun- dancy payment is based on "a week's pay" in relation to the redundant employee.
However, there is a limit on a week's pay, and this rose from £400 a week
to £430 a week for redundancies taking place on or after 1 February 2012.
The formula for calculating statutory redundancy pay takes into account the employee's earnings, along with age and length of service. Redundancy pay is calculated by determining the period, ending with the relevant date - which will usually be when the employee's notice expires - that the employee has been continuously employed.
The employer then has to work backwards to calculate the number of complete years of employment within that period. Finally, it has to calculate the appropriate amount of pay for each of those years of employment.
In the calculation, half a week's pay is allowed for each full year of employment the employee was aged
The maximum number of years that can be taken into account is 20. That means someone who had 20 years' service in the 41 and above bracket would be entitled to one and a half weeks' pay for each year of service, which would be 30 weeks' pay. This would now be capped at £430 per week, giving a maximum statutory redundancy payment of £12,900, compared with £12,000 previously.
The calculation for a week's pay can be complicated and depends on whether or not the employee has normal working hours. Basically, if the employee has normal working hours that are the same every week, and the employee's wages for employment in normal working hours do not vary with the amount of work done, a week's pay will be the amount payable under the contract of employment in force on the calculation date if the employee works the normal hours. (Other arrangements require the 12-week period prior to the calculation date to be taken into account.)
So, if the employee's change to part-time hours was a permanent contractual change and the employee's normal working hours are now the part-time hours, the redundancy payment will be calculated on the part-time salary.
The procedure for redundancy can be quite complex so for further informa- tion, advice or guidance on the redun- dancy procedure, consultation, selec- tions and calculations please contact SOS-HR on 01473 276170.
The Perfect Gift List - for that special holiday!
What do you buy someone who is celebrating a 40th or 50th Birthday and has every- thing? What do you give a honey- moon couple that live together and have all the toast- ers, cutlery and
towels they need for their home? What gift do you choose for someone you work with when they are retiring?
From our experience people don't like giving money or vouchers as gifts, as this can be a little impersonal. We therefore, create a list of things that friends and relatives can buy for you to enjoy whilst on holiday: perhaps a spa treatment on the beach; a private balloon excursion over the Masai Mara; tickets to a theme park in Florida; a scuba diving lesson in the Indian ocean or even a bottle of wine with dinner.
The Perfect Gift List is a FREE service and the ideal solution for all clients booking their overseas holiday or honeymoon with us. The list is end- less and can be arranged to suit exactly what you want to include to enhance your trip.
Here are some examples of what you could include on your list depending on where you are travelling to:
Broadway Show - New York Tickets to one of top shows on
Broadway - Jersey Boys, Wicked, Phantom, Blue Man Group, Mamma Mia, Chicago, Mary Poppins, Billy Elliott and many more.
Gondola Serenade - Venice Share this magical evening with other guests and together be captivated by the glamour and elegance of this beautiful city.
Cuddle a Koala Tour - Australia This is an excellent opportunity to meet and observe Australia's cud- dliest native animals - up-close! Spend quality time getting to know your newest friend.
Grand Canyon Aerial Sightseeing Tour - Nevada
This fantastic tour offers a one hour flight by small plane over Lake Mead, the Hoover Dam, Western Grand Canyon and the Colorado River.
Swim with Dolphins - Mexico You'll experience an incredible pro- gram filled with excitement, action & fun as you make friends with these beautiful animals. Plus enjoy a FREE Fantasy Snorkel!
Wherever the holiday, whatever the idea, Andrew Rowdon Travel has over 5000 worldwide tours, shows and experiences to create the perfect memory for that special day.
Please ask for further details 0845 313 6016 email email@example.com
Please mention the Flyer when responding to advertisements. www.flyeronline.co.uk
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