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If you are an employee with at least two years' service in your job, you are entitled to a statutory redundancy payment. This is normally paid by your employer, but the State will pay if your employer has gone bust. 

The statutory payment is the minimum you must receive, but some employers pay more than the minimum compensation when making someone's job redundant. Details of any contractual redundancy scheme should be either in your contract of employment, a separate redundancy document or a collective agreement. If there is no pre-existing agreement to an enhanced redundancy payment, your union may be able to negotiate this when redundancies are proposed, 

But if you are only getting the legal minimum, this is what you will get: 

  • half a week's pay for every year of service while you were under 22 years old; 
  • one week's pay for every year of service between 22 and 40; and 
  • one and a half week's pay for every year of service over 41. 

A maximum of 20 years' service is taken into account and there is a limit to what is defined as a week's pay for statutory redundancy purposes. It is calculated based on your salary at the time of the redundancy even if, for example, you have worked full time for most of your employment and only recently reduced your hours to part time. 

You can find out how much you should get from the redundancy pay calculator

Note: This content is provided as general background information and should not be taken as legal advice or financial advice for your particular situation. Make sure to get individual advice on your case from your union, a source on our free help page or an independent financial advisor before taking any action.
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