Is there a specific timespan (duration of not being employed) that arises when an employee should seek redundancy and does it have a financial bearing if redundancy is not sought within a set period of time?Posted in : First Tuesday Q&A ROI on 4 November 2014 Issues covered:
The Redundancy Payments Acts 1967 - 2012 (the “Acts”) state that employees with at least 104 weeks’ reckonable service with the employer will be entitled to a lump sum payment of 2 weeks’ pay per year of service, plus one additional weeks' pay, e.g. an employee with three years’ service shall be entitled to 7 weeks' pay - 2 weeks' pay per year x 3 plus 1 week. For the purposes of calculating redundancy payments, a week's pay is capped at €600. These payments shall not be subject to tax. The employer should pay the redundancy payment on following the cessation of employment.
If the employer refuses to pay the employee the redundancy payment, the Acts provide that qualifying employees can
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Back to Q&A's This article is correct at 02/09/2015
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