Redundancy Payments
Could you claim Statutory Redundancy Payments from the National Insurance Fund?
National Insurance Fund
When a company enters insolvent liquidation, payments for outstanding wages, holiday pay, pay in lieu of notice and redundancy can be potentially received from the National Insurance Fund.
Director’s Redundancy
Both directors and employees are entitled to statutory redundancy pay, which is determined by age, length of service, and weekly pay. Use the tool below to calculate the payment you could receive.
Calculate Statutory Redundancy
Statutory Redundancy Payment is:
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Payments are:-
- 0.5 week’s pay for each year when you’re under 21 or under.
- 1 week’s pay for each year when you’re between 22 and 40.
- 1.5 week’s pay for each full year when you’re 41 or older.
As of 6th April 2025, the weekly pay cap for redundancy calculations is £719.
To be eligible, a director must; have worked for the company for at least two years; have worked a minimum of 16 hours per week; have received a salary through PAYE rather than just dividends.
Disclaimer: Results are informational only and not legal or financial advice. Accuracy isn't guaranteed, as calculations may exclude circumstances, legislation updates, or extra entitlements. For exact calculations or advice, consult a professional or government resource.
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