Increase to statutory cap on redundancy payments

23rd August 2024

The Average Weekly Earnings Report for 2024 was released on Friday 23 August 2024 meaning that effective from 24 September 2024 the cap on statutory redundancy payments increases to £1000.00 (and increase of £80.00 from 2023/24) per week for each full year of service.  Our 2024 redundancy booklet showing a fair process and also includes example letters that can be used throughout the process can be found on this link.