The maximum statutory redundancy pay has increased from £11,400 to £12,000, based on a rise on the maximum weekly wage figure used to calculate entitlement to redundancy pay. The amount of a week's pay is subject to a statutory cap (currently £380.00 ) rising to £400.00 from 1 February 2011.
Under the statutory redundancy scheme, half a week's pay is payable for each year of employment during which the employee was aged 21 or under; one week's pay is payable for each year of employment during which the employee was aged between 22 and 40; and one and a half weeks' pay is payable for each year of employment during which the employee was aged 41 or over