The section also ensures that in the event of an employer being unable to pay an amount arrived at in settlement of a statutory redundancy pay dispute because of insolvency, the government guarantee of the settlement amount will be fully valid (see Insolvency/government guarantees on insolvency of employer/redundancy money ).
Go to Redundancy/Calculator (redundancy pay) for an easy way to calculate statutory redundancy pay.
See also ACAS/COT3 procedure and conciliation and for statistics see the annual listings at ACAS/annual report .