Redundancy after 8 years
After 8 years of service, the NES minimum redundancy pay is 14 weeks of base pay, plus 4 weeks notice.
Redundancy
14 weeks
Notice
4 weeks
Combined
18 weeks
Payout at Different Salaries
$60,000 salary$16,156 redundancy + $4,616 notice = $20,772
$80,000 salary$21,532 redundancy + $6,152 notice = $27,684
$100,000 salary$26,922 redundancy + $7,692 notice = $34,614
$120,000 salary$32,312 redundancy + $9,232 notice = $41,544
Years of Service8 years
Redundancy Pay14 weeks
Notice Period4 weeks
Over 45? (+1 week notice)5 weeks notice
Small Business (<15 staff)No redundancy owed