RSA plans to halve redundancy payouts for staff
Proposal affects staff employed before April 2013.
RSA staff have been told by email and through a booklet that the insurer is proposing to cut redundancy entitlements by up to half in the UK, sister title Post has reported.
According to the article, staff could see the payouts drop from four weeks' pay per year of employment to two weeks.
The proposal would hit staff employed before April 2013 with all joiners post then already on contracts with statutory redundancy terms.
This works out at half a week's pay for each full year when under 22
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk