Redundancy Entitlement

Employees are entitled to receive a redundancy payment if they are being made redundant and have worked continuously for UCL for at least two years. Redundancy is calculated on complete years of service and is calculated as follows:

Total Years Service	Number of Weeks Salary	Weekly Salary to be Paid
More than 2 years service and up to 4 years completed service	Statutory	Statutory limit of £450¹ per each week due
5 years completed service and over but less than 10 years	Statutory	Actual weekly salary based on annual salary
Over 10 years completed service	Statutory (x2)	Actual weekly salary based on annual salary

Where the employee's weekly salary is less than the statutory redundancy figure of £450, calculations will be based on your actual weekly salary. For details of statutory redundancy calculations, see the Department for Business Enterprise and Regulatory reform website: http://www.direct.gov.uk/redundancy.dsb

HR Policy

¹ As at February 2013