The sum that an employee dismissed due to redundancy is entitled to receive from his or her employer under the Employment Rights Act 1996. It is based on the employee's age, years of continuous employment, and weekly pay.
Severance benefits are stipulated funds or compensation provided to employees who are terminated or laid off from a company.
Termination benefits refer to those additional perks an employee receives when their employment ends at the employer's behest, including voluntary redundancy scenarios treated as employer-initiated terminations.
