Minister Martin announces increase in ceiling of calculation of statutory redundancy payment

The Minister for Enterprise, Trade and Employment, Mr Micheál Martin T.D., has made Regulations under the Redundancy Payments Acts, 1967 to 2003, which raise the ceiling on annual reckonable earnings to be taken into account in the calculation of statutory redundancy lump sum payments from €26,411 (€507.90 per week) - formerly £20,800 (£400 per week) to €31,200 (€600 per week) from the 1^st January, 2005. Eligible employees who are notified of proposed redundancy on or after that date and whose annual earnings are in excess of €26,411 (€507.90 per week) will benefit.

The Regulations are called the Redundancy Payments (Lump Sum) Regulations, 2004 (S.I. 695 of 2004).

Copies of these Regulations may be purchased from the Government Publications Sales Office, Sun Alliance House, Molesworth Street, Dublin 2 (tel. 01 - 6476879) or through any bookseller or by mail order from Government Publications, Postal Trade Section, 51 St Stephen's Green, Dublin 2. (tel. 01 - 6476000, fax no. 01 - 6476843). (Price €0.76).