S.I. No. 695 of 2004.
Redundancy Payments (Lump Sum) Regulations 2004
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
The purpose of these Regulations is to raise the ceiling on annual reckonable earnings to be taken into account in the calculation of a statutory redundancy lump sum payment from €26,411 (€507.90 per week) (being £20,800 at the date of the last increase on 1st April, 2001 or £400 per week) to €31,200, (€600 per week) from 1st January, 2005. The critical date for determining whether the higher ceiling should apply in any particular case is the date on which notification of proposed dismissal by reason of redundancy is issued.