Excel Formula to calculate statutory redundancy pay

Hi there,

I need to create a template with formula to calculate statutory redudancy pay. There are differnent payments dependent on your age and a weeks’ pay is capped at £489 (maximum years service is capped at 20 years too)- please see below. Could you kindly assist me in the formulae that would do this if i had age and years of service in cells A2 and B2 respectively?

  • half a week’s pay for each full year you were under 22
  • one week’s pay for each full year you were 22 or older, but under 41
  • one and half week’s pay for each full year you were 41 or older
  • Many thanks in advance!!

    RS

     

     

     

    By: RS

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