Statutory Redundancy Payments: With the abolition of the compulsory retirement age, the tapering off of statutory redundancy payments for those aged 64 and above was also removed. Over sixty-fives will therefore still be eligible for a statutory redundancy payment.
What is the calculation date for redundancy?
The number of weeks’ redundancy pay you should receive is calculated up until a set ‘relevant date’. It’s important to know when this date is so you can work out how many years service you have. In most instances, this is the date when your employment ends (the last day of your notice period).
What happens to my company pension if I get made redundant?
If you’re made redundant, you’ll have to stop paying into it and do one of the following: Leave your pension in the scheme and when you retire you’ll get an income from that. Transfer your pension into a new employer’s scheme (if they allow you to). If you’re old enough, you might be able to take early retirement.
Do I get redundancy pay if I am over 65?
Workers over 65 who lose their jobs other than by retirement will have the right to claim compensation for unfair dismissal or a redundancy payment. But an employer will be able to force any worker over 65 to retire by giving six months notice.
How old do you have to be to be redundant at the BBC?
I am 57 and was made redundant in August, 2009. I have been working freelance off and on since then. (I am finishing a short assignment after 5 months between assignments but have nothing lined-up at the moment.)
What’s the law on redundancy for over 65s?
There are age related and other restrictions in regards to genuine redundancy payments, this falls falls under Section 83-175 of the Income Tax Assessment Act 1997 . The ATO has a good public ruling on this matter, which I suggest you have a read of: Refer TR2009/2 para 282 and 283
What do you need to know about redundancy and restructure?
In any redundancy/restructure exercise, the grounds for redundancy must be spelt out and they must be fair and not discriminate against certain workers, eg those who work part time or those who are on maternity leave.
How is redundancy pay for part time workers a myth?
In other words the longer you have worked (full-time and part-time), the higher your redundancy payment will be. Whilst every care has been taken in compiling this answer, WorkingMums cannot be held responsible for any errors or omissions. This information is not intended to be a substitute for specific legal advice. You already voted!
