Paragraph 4
England, Wales and Scotland
Where in the case of an employee the relevant date is after the specified anniversary, the amount of the redundancy payment, calculated in accordance with the preceding provisions of this Schedule, shall be reduced by the appropriate fraction.
In this paragraph F1“the specified anniversary”, in relation to an employee, means the sixty-fourth anniversary of the day of his birth, and “the appropriate fraction” means the fraction of which—
the numerator is the number of whole months, reckoned from the specified anniversary, in the period beginning with that anniversary and ending with the relevant date, and
the denominator is twelve.
Annotations
Textual amendments
- F1
Words substituted (with saving) by Employment Act 1989 (c. 38, SIF 43:1), ss. 16(2), 29(6), Sch. 9 paras. 3, 4
Notes on the whole Act
Textual amendments
- F1
Words in long title substituted (1.8.1998) by 1998 c. 8, s. 1(2) (with s. 16(2); S.I. 1998/1658, art. 2, Sch. 1
Notes on Schedule 4
Textual amendments
- F1
Sch. 4 repealed (22.8.1996) by 1996 c. 18, ss. 242, 243, Sch. 3 Pt. I (with ss. 191-195, 202) and subject to an amendment to para. 5 (1.8.1998) by 1998 c. 8, s. 1(2) (with s. 16(2)); S.I. 1998/1658, art. 2, Sch. 1