On 28 April 2003, liquidators on behalf of the company made formal application to my Department on behalf of 76 employees for payment from the Social Insurance Fund of their statutory redundancy lump sum entitlements. This application will be treated as a priority case and every effort will be made to ensure that all eligible employees receive their payments as soon as possible. All payments will be tax free.
As the employees concerned have already been given their notice of redundancy, the calculation of the statutory payments will be based on the existing statutory entitlements under the present legislation, that is, the Redundancy Payments Acts 1967 to 2001. The new redundancy payment levels will be payable on the coming into force of the Redundancy Payments Bill 2003, which has already received Government approval and is being treated as priority legislation. Although every effort will be made to secure its successful passage through the Houses of the Oireachtas as soon as possible, it will not be applicable to the employees of this company.
