Redundancy Insurance

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Redundancy Rights

Redundancy occurs where your dismissal is wholly or mainly attributable to the fact that your employer's requirements for work of the particular kind you are employed to do has ceased or diminished, either temporarily or permanently.

If you are dismissed for this reason, or put on short-term working or are laid off for four weeks or more, you can claim a redundancy payment. The payment is based on your age, length of continuous service and weekly pay. You are entitled to one and a half weeks' pay for each year of continuous employment when you are aged between 41 and 63 inclusive, one week's pay between the ages of 21 and 40 inclusive, and half a week's pay for each other year. The maximum weekly pay allowable for redundancy purposes is £270 (from 1 February 2004).

You lose your right to a redundancy payment if you turn down an offer made by your employer to re-engage you on a new contract if the offer is of suitable alternative employment and you have unreasonably refused to take it. The unreasonableness is judged by what your own circumstances are and is a more generalised test of reasonableness.

Before you are made redundant, you have a right to claim time off with pay to look for work or to retrain. If you accept an offer of employment with the same employer, you have the right to a four-week trial period during which time you can quit the job and be regarded as redundant so that you do not prejudice your rights by taking the job for a trial period.

You need two years' continuous employment to qualify for redundancy pay.

If your employer is insolvent, you can make a claim for redundancy pay and other outstanding debts including notice and holiday pay to the Secretary of State for Employment.

Although you will most likely get Redundancy Pay this is often exhausted by normal commitments such as mortgage and other bills. You should protect yourself against the very real possibility of redundancy by taking out Redundancy Protection in the form of Redundancy Protection Insurance.

UKinsuranceNET Accident, Sickness & Redundancy Insurance policies can be tailored to suit your individual needs. Simply click for a quote. Alternatively speak to one of our highly experienced consultants today on 0845 365 1264 or fill out our online quote request form and one of our advisors will contact you.