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Old 15th Jan 2012, 15:09
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Private jet
 
Join Date: Nov 2001
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If a company is wound up voluntarily any employees are still entitled to redundancy pay because they have lost their jobs with said company. If there are insufficient funds in the business to do this then the company is technically insolvent and will be passed to the official receiver. Anyone who has not received redundancy pay should apply to the receiver who will organise payment from the NI fund. However all statutory redundancy pay is capped at maximum £380 per year of service aged under 40 & £570 per year over 40, so don't expect to be able to retire on it!
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