For each complete year of service up to a maximum of 20 years, employees are entitled to:
- For each complete year up to age 22: half a week’s pay*
- For each year of service at age 22 but under 41: 1 week’s pay*
- For each year of service at age 41 or over: 1.5 weeks’ pay*
*A week’s pay is that which the employee is entitled to under his/her contract of employment, subject to a maximum statutory limit – currently £508 per week.