we would propose to use statutory terms for redundancy pay
I kept my head down through at least two waves of redundancies in the 90s, and finally went after 9/11 with a pretty generous package that included an enhanced 4 weeks per year, uncapped, plus all the statutory and contractual stuff. I had 15 years.
To be clear, the current 'statutory' is 1.5 weeks per full year (over age 40), capped @ £538 per week, and capped at 12 years.
I am now working elsewhere am about to leave on statutory plus enhancement of just 1 extra week for every 3 years.
Times they are a-changing indeed.