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Minimum Redundancy Pay for Employees

Minimum Redundancy Pay for Employees

A Members’ Bill introduced into Parliament last week by Labour MP Sue Moroney proposes to provide minimum statutory redundancy entitlements for all employees. These include:

1. Four weeks’ notice of termination
2. Redundancy compensation of: • four weeks’ pay for the first full year of service with the employer and • Two weeks' pay for each subsequent full or partial year service.
3. Payment to a maximum entitlement of 26 weeks' remuneration.

Max Whitehead of the Whitehead Groups says that if the Bill is passed into law, the financial implications on small-to-medium-sized businesses, many of whom are already struggling, would be significant.

“It’s our view this law will close many SMEs and cause the loss of thousands of New Zealanders’ jobs,” says Mr Whitehead.

The Whitehead Group intends to deliver a submission on behalf of SMEs and is currently collecting factual stories from businesses who declare this law will cause their demise and the loss of employment of their staff.

ends

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