Redundancy pay entitlements

The amount of a “week's pay” is subject to a statutory limit and the payments that can be taken into account when calculating an employee's weekly pay are set down in the relevant legislation. The statutory limit is currently £464 per week (please note that this will change in April 2015).
You can access the current weekly pay statutory limit requirements together with an automatic redundancy pay calculator by following this link: https://www.gov.uk/calculate-your-redundancy-pay
The basic calculation however is:-
o One and a half week's pay for each complete year of service aged 41 and over.
o One week's pay for each complete year of service between ages 22 and 40.
o Half a week's pay for each complete year of service under the age of 22.
A maximum of 20 years' service can be taken into account. Therefore the current maximum is £13,920.