01332 340 211

Statutory redundancy payment

Statutory redundancy payment (SRP) is a statutory payment due to any employee with two years continuous employment who is made redundant.

The amount of a statutory redundancy payment is calculated in the same way as the basic award, according to a formula based on the employee’s age, length of service and week’s pay (subject to a statutory limit).

Employers should have a compliant redundancy policy.

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Derby Head Office:
St. Michael’s Court
St. Michael’s Lane
Derby
DE1 3HQ
Tel: 01332 340 211
Fax: 01332 207 601
DX: 729320 Derby 24

Ashbourne:
54, St. John Street
Ashbourne
Derbyshire
DE6 1GH
Tel: 01335 342 208
Fax: 01335 342 010
DX: 26834 Ashbourne

Opening Times:
Our offices are open Monday to
Friday between 8:00am & 6:00pm

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