Statutory Redundancy Pay Update

As previously reported, in response to the economic effects of the 'credit crunch' the government had announced an increase to the weekly limit used to calculate redundancy pay, but had not confirmed when this would take effect.

The new limit of £380 will be effective from 1st October 2009.

The rate is normally increased in February of each year, but due to the significant level of increase from October there will not be a further increase in February 2010.