Statutory Redundancy

Under the Redundancy Payments Scheme all eligible employees and directors are entitled to a statutory redundancy lump-sum payment upon being made redundant.

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, and
• One further weeks pay – known as a bonus week.

The amount of statutory redundancy is subject to a maximum earnings limit of €600 per week.

Statutory redundancy payment is tax-free.