Redundancy Payment Scheme
Where a member of staff's contract is terminated for reason of redundancy (including upon expiry of a fixed term contract), and where it has not been possible to avoid the redundancy through suitable alternative employment, redeployment or other means, the University's Redundancy Payment Scheme shall apply at the end of the notice period.
Individuals with 2 year’s service or more will be entitled to receive a Statutory Redundancy Payment (SRP).
The SRP is calculated according to the member of staff´s length of service, weekly salary and age. Estimates may be calculated using the Government's statutory redundancy entitlement calculator.
Individuals with 2 year’s service and who have fully engaged in the redeployment process will be entitled to receive an Enhanced Redundancy Payment (ERP).
The ERP includes the SRP (calculated as above) and then the University enhances this figure by 100% (SRP calculation x2).
Where a member of staff is eligible, a redundancy payment shall be calculated in accordance with the University’s agreed payment scheme and current employment legislation, taking into consideration the prevailing circumstances for the member of staff and the University.
Where the University makes a redundancy payment:
- the terms of the redundancy payment shall be in accordance with the University’s agreed payment scheme;
- the member of staff shall be eligible for reasonable paid leave of absence to seek alternative employment, in line with statutory requirements;
- the University shall consider as sympathetically as possible any request by the member of staff to waive all or part of the notice period to accommodate for early release, for example, where they have obtained an offer of employment;
- at the end of the individual’s notice period Human Resources will write to the individual providing a calculation of the redundancy package and to confirm payment arrangements.
- redundancy payments are paid post employment and would normally be paid as soon as reasonably practicable, via the normal payment method for the staff member, further to the staff members’ termination date;
- the member of staff is not eligible to be engaged by the University for a period of 4 months following from date employment ceases.