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Redundancy Entitlement
Guidance on the entitlement of UCL employees to redundancy payment
- 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.
- Employees with between two years’ service and up to five years’ service will receive statutory redundancy pay.
- Employees with five completed years’ service or more will receive UCL’s enhanced redundancy pay.
All redundancy payments are paid from a central Finance budget.
Redundancy payments are calculated as follows:
Total Years Service (capped at 20 years service) | Number of Weeks Salary | Weekly Pay Multiplier |
|---|---|---|
Up to 2 years service | No entitlement | No entitlement |
Between 2 years completed service and up to 5 years completed service upon leaving | Statutory entitlement (according to age and length of service) | Statutory weekly limit* or actual weekly salary if less |
Between 5 years completed service and up to 10 years completed service | Statutory entitlement (according to age and length of service) | Actual weekly salary based on annual salary |
10 years completed service or more (capped at 20 years service) | Statutory entitlement (according to age and length of service) x2 | Actual weekly salary based on annual salary |
*Please note the statutory weekly limit increases each year. Please check the Government Website for the latest figure
Where the employee's weekly salary is less than the statutory redundancy figure, 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.
Please note: If you are offered another suitable job at UCL before your last day of service, you will not be entitled to a redundancy payment (unless the new job commences more than 4 weeks after your last day of service). If an employee is given a redundancy payment that they are not entitled to they must repay it. If a job is offered to a UCL employee after their last day of service, there should be a two week break in service before they start the new role.
HR Employment Policy
Last updated: Thursday, December 22, 2022