Employees with more than 2 years’ continuous service who are made redundant are usually entitled to a statutory redundancy payment that is based on length of service, age and pay, up to a statutory maximum.
The UK Government have brought in legislation from Friday 31 July 2020 that will:
- ensure that furloughed employees receive statutory redundancy pay based on their normal wages, rather than a reduced furlough rate
- mean those furloughed under the Coronavirus Job Retention Scheme are not short-changed if they are made redundant
- also apply to statutory notice pay and other entitlements, providing some reassurance during this difficult time
For further information please visit the GOV.UK website.