redundancy payment


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redundancy payment

n
(Industrial Relations & HR Terms) a sum of money given by an employer to an employee who has been made redundant: usually calculated on the basis of the employee's rate of pay and length of service
Translations

redundancy payment

n (Brit) → indennità f inv di licenziamento
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References in periodicals archive ?
Some people will be due a quite sizeable redundancy payment too so there is a silver lining.
The Redundancy Payment Service can also pay both employee pension contributions and employer contributions, within specified legal limits.
We reported earlier in the year that the Welsh Government forked out a massive PS232,050 in a single redundancy payment in 2014-15.
Last year, 11,724 people filed for redundancy payment.
Applications pending for redundancy payment in September soared by 60.
Companies can get help from the Government's Redundancy Payment Scheme but Mr Coyne believes that is fundamentally flawed.
The highest individual redundancy payment was pounds 949,000, followed by pounds 600,000 and pounds 435,000.
Those who lose their jobs are entitled to a statutory redundancy payment, provided they have worked with their employer for two years.
He said: "Given the unprecedented increase in redundancy payment claims lodged with my Department since late 2008, it has proved impossible to maintain the customer service targets previously obtained.
My difficulty is that although I have been given one week's pay in lieu of notice and my accrued holidays, I have not received any redundancy payment.
To be eligible for the statutory minimum redundancy payment you must meet all the following criteria:
The agency that employed me said they would send out my redundancy payment but I never received it.

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