Redundancy payments limit increased to £380 per week
June 2009
The Department for Business, Innovation and Skills have announced that the limit on Statutory Redundancy payments will be increased from £350 to £380 per week with effect from 1st October 2009.
The reason behind the increase is the Government’s wish to provide additional support for those made redundant in the current adverse economic climate while not placing too onerous a burden on employers. The increase will apply to all payments where the week’s pay limit is relevant. The introduction of this one-off increase in October means that the annual uprating of the limit which was due in February 2010 will be suspended.
Susan Owens, Employment Lawyer at hc solicitors, commented “As the increase will apply from 1st October 2009, employers may wish to bear this in mind when planning any future redundancies.”
hc solicitors are this year celebrating their 75th anniversary providing legal services to the whole community of Peterborough.