Redundancy payments limit increased to £380 per week

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.

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This article has been prepared for general interest and information purposes only; it does not constitute legal advice and should not be relied on as such. While all possible care has been taken in the preparation of this article, no responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by the firm or the authors.