News story
Statutory redundancy payments increase
On 6 April the maximum amount the Redundancy Payments Service (RPS) can pay individuals per week is increasing from 拢489 to 拢508.
When a business goes insolvent, employees can submit a claim to the RPS for money they are owed, including:
- redundancy pay
- holiday pay
- arrears of pay
- statutory notice pay
At the moment, the RPS can pay up to 拢489 a week for each claim. For example, if someone claims for redundancy pay and statutory notice pay they can get up to 拢489 a week for each one.
As of 06 April 2018, the amount the RPS can pay is increasing to 拢508 a week for each claim.
This means that if an individual is given notice of their redundancy on or after 06 April 2018, their weekly pay will be capped at 拢508. If they were given notice before 06 April 2018, their weekly pay may be lower.
Updates to this page
Published 29 March 2018