# Employment Protection (Consolidation) Act 1978, Paragraph 4

Extent: E+W+S

(1) 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.
(2) In this paragraph “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—
(a) 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
(b) the denominator is twelve.

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Source: https://www.legislation.gov.uk/ukpga/1978/44/schedule/4/paragraph/4 (the official version)
Page: https://openlegislation.uk/employment-protection-consolidation-act-1978/schedule-4/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.