As you have over two years’ continuous employment, then you are entitled to a Statutory Redundancy Payment (“SPR”) in addition to your notice pay. The calculation for SRP is calculated by the Government’s formula which you can find on the .Gov Website and is based on the Employee’s age, net weekly salary and length of employment at the Effective Date of Dismissal.
In addition to SRP, you are entitled to your Notice Pay under your Contract of Employment. You may either work your full notice period or be paid Payment In Lieu of Notice (“PILON”) net of PAYE Income Tax and National Insurance Contributions, as well as accrued Holiday Pay and any other contractual benefits, such as performance-related bonus.
The employer must follow fair a Redundancy Selection Process before making you Redundant and cannot do so based on the Employee having a Protected Characteristic under the Equality Act, such as Race, Gender, Religion or Belief, Pregnancy and Maternity, Trade Union Activity or being a Whistleblower.
Although Redundancy is a Dismissal for Employment Rights purposes, it is a potentially fair reason for Dismissal and is probably the “cleanest” and least contentious way to terminate an employee’s contract of employment as it is the position that is redundant, not the employee themselves.