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Redundancy

  • 24-03-2018 2:24pm
    #1
    Cfc64
    Registered Users, Registered Users 2 Posts: 1 ✭


    I'm being made redundant and the termination date is 5 days short of having 3 years service. Would I be entitled to more compensation if I'd reached 3 years? Are they being sneaky?


Comments

  • #2
    Cloudio9
    Registered Users, Registered Users 2 Posts: 1,351 ✭✭✭Cloudio9


    Cfc64 wrote: »
    I'm being made redundant and the termination date is 5 days short of having 3 years service. Would I be entitled to more compensation if I'd reached 3 years? Are they being sneaky?

    There’s no statutory entitlement you’re missing out on. Statutory redundancy comes after 2 years service.


  • #3
    KevIRL
    Registered Users, Registered Users 2 Posts: 39,691 ✭✭✭✭KevIRL


    Cfc64 wrote: »
    I'm being made redundant and the termination date is 5 days short of having 3 years service. Would I be entitled to more compensation if I'd reached 3 years? Are they being sneaky?

    Should be calculated to the day. Certainly the statutory part.


  • #4
    Subtle
    Registered Users, Registered Users 2 Posts: 138 ✭✭Subtle


    Sorry to hear about your redundancy OP. Can I ask what sector the job was in out of curiosity?


  • #5
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,378 ✭✭✭✭jimmycrackcorm


    You should check the figure calculations for what you're being offered. It should be pro rata and not rounded down to the earliest whole year.


  • #6
    Avatar MIA
    Closed Accounts Posts: 6,750 ✭✭✭Avatar MIA


    jimmycrackcorm wrote: »
    It should be pro rata and not rounded down to the earliest whole year.

    I thought statutory redundancy was.


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  • #7
    TG1
    Registered Users, Registered Users 2 Posts: 1,920 ✭✭✭TG1


    jimmycrackcorm wrote: »
    You should check the figure calculations for what you're being offered. It should be pro rata and not rounded down to the earliest whole year.

    Unless the company is giving a higher rate than statutory. In that case they can calculate however they choose as long as it comes in at a total that is above the statutory figure.


  • #8
    Cloudio9
    Registered Users, Registered Users 2 Posts: 1,351 ✭✭✭Cloudio9


    Avatar MIA wrote: »
    I thought statutory redundancy was.

    no it's calculated to the day.


  • #9
    butrasgali
    Registered Users Posts: 285 ✭✭butrasgali


    I'm in a job for 28 years ..rumours of redundancy..I would be entitled to statutory plus 4 weeks per year from the company..total roughly 90 thousand..what tax would I pay on this does anyone know..thanks


  • #10
    Sir Ophiuchus
    Registered Users, Registered Users 2 Posts: 1,035 ✭✭✭Sir Ophiuchus


    It's fairly complicated, but basically you don't pay tax on the statutory part but you do on the part that's over and above statutory.

    http://www.citizensinformation.ie/en/employment/retirement/income_tax_in_retirement/retirement_lump_sum_taxation.html


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