162 Amount of a redundancy payment
162 Amount of a redundancy payment

(1)     The amount of a redundancy payment shall be calculated by—

(a)     determining the period, ending with the relevant date, during which the employee has been continuously employed,

(b)     reckoning backwards from the end of that period the number of years of employment falling within that period, and

(c)     allowing the appropriate amount for each of those years of employment.

(2)     In subsection (1)(c) “the appropriate amount” means—

(a)     one and a half weeks' pay for a year of employment in which the employee was not below the age of forty-one,

(b)     one week's pay for a year of employment (not within

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