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Not all employees are entitled to the statutory redundancy payment, even where a redundancy situation exists. To be eligible for a payment under the Redundancy Acts, the employee must satisfy the following requirements.

  1. Be aged over 16 years of age
  2. Be in employment that is insurable for all benefits under the social welfare system (PRSI Class A)
  3. Have worked continuously for the employer for at least 104 weeks
  4. Have been in continuous employment for more than two years if a part-time worker.
  5. The same rules apply to apprentices. Apprentices qualify for redundancy unless they are let go within one month of completing an apprenticeship.

If you require Independent Advice on qualifying for statutory redundancy or you are assessing a redundancy offer from your employer, contact us for full analysis and advice on your options. Complete the data box above and an Experienced Financial Advisor will contact you within 24 hours to assess your payments, pension and taxation implications.

The statutory redundancy payment is a lump-sum payment based on the pay of the employee. All eligible employees are entitled to:

Two weeks’ pay for every year of service they have since they were 16 and one further week’s pay.

The amount of statutory redundancy is subject to a maximum earnings limit of €600 per week (€31,200 per year)

Pay refers to your current normal weekly pay including average regular overtime and benefits-in-kind, but before tax and PRSI deductions, that is your gross pay.

The statutory redundancy payment is tax-free.

You can get an Independent Redundancy rule-check within 24 hours by calling.

All redundancies notified after 10 April 2005 take account of absences from work over the last 3 years of service. Any absences outside of this 3-year period which ends on the date of termination of employment are disregarded. When calculating the actual length of your service for redundancy payment purposes, the following are regarded as reckonable service, (the absences listed here are called reckonable absences):

  • The period you were actually in work
  • Any absence from work due to holidays
  • Any absence from work due to illness (see below for non-reckonable periods of illness)
  • Any period where you were absent from work by agreement with your employer (typically career break)
  • Any period of basic and additional maternity leave allowed under the legislation
  • Any period of basic adoptive/paternity/carer’s leave
  • Any period of lock-out from your employment
  • Any period where the continuity of your employment is preserved under the Unfair Dismissals Acts.

However, in making the calculations of the length of your service, the following periods over the last 3 years will not be taken into accounts as service, (these are called non-reckonable absences):

  • Any period over 52 consecutive weeks where you were off work due to an injury at work
  • Any period over 26 consecutive weeks where you were off work due to an illness
  • Any period on strike
  • Any period of lay off from work.

You can get an Independent Redundancy rule-check within 24 hours by calling.

You can use the Dept of Employment Affairs and Social Protection redundancy calculator (click here) to help you to calculate your statutory redundancy entitlements. You should note that the online redundancy calculator does not give a legal entitlement to any statutory redundancy amount.

Yes, we can. Please complete the Review panel above and an experienced consultant will be in touch with you within 24 hours to verify the entitlements and assist you with your application process. We can examine your Employer’s offer and calculate the most tax-efficient outcome from the redundancy offer.

You may have received an offer from your Employer which requires your decision to accept or reject. You may be confused about taking the redundancy payment and exercising your pension tax-free lump sum allowance. This is a very important consideration on which you should take independent advice.

Sit back and relax. A redundancy specialist will familiarise themselves with your case to ensure they are well positioned to advise you on your free consultation call. You can expect a phone call from an advisor in the next 24-hours to discuss your redundancy in detail.