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"Increase in statutory redundancy payments and national minimum wage from 1 October 2009"
				
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<b>Statutory Redundancy </b>

In line with the 2009 Budget, from 1 October 2009 the weekly limit used to calculate statutory redundancy pay will increase from £350 to <b>£380 </b>(resulting in a maximum potential payment of £11,400).   Redundancy payment is calculated in line with the following: 

* how long you have been continuously employed 
* your age 
* your weekly pay, up to a certain limit (£380 from 1 October 2009).

You will get:

* 0.5 week’s pay for each full year of service where your age was under 22 
* 1 week’s pay for each full year of service where your age was 22 or above, but under 41 
* 1.5 week’s pay for each full year of service where your age was 41 or above

The Government's decision is designed to provide more support for those individuals made redundant in the current economic climate. 
These figures are updated annually in February, and the introduction of this one-off increase means the usual increase in February 2010 will be suspended. 

<b>National Minimum Wage (NMW) </b>

The new NMW rates come into effect on 1 October 2009. 

There are three hourly rates as follows: 

* For workers aged 22 and over, the current rate of £5.73 per hour will increase to <b>£5.80</b>
* For workers aged 18 to 21, the current rate of £4.77 per hour will increase to <b>£4.83</b>
* For workers aged 16 and 17, the current rate of £3.53 will increase to <b>£3.57</b>.


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http://www.mercerhole.co.uk/news/people-entry/increase-in-statutory-redundancy-payments-and-national-minimum-wage-from-1-/

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