From Longman Dictionary of Contemporary Englishredundancy payreˈdundancy ˌpay noun [uncountable] British English BEWmoney you get from your employer when you are made redundant SYN severance pay American English
Examples from the Corpus
redundancy pay• If Sandie does not want it she will still get redundancy pay.• The man from Bicester who blew his redundancy pay on a Rolls Royce.• His redundancy pay and bar work supported him while he did this.• Some have worked at Bentley pianos for forty years, but they haven't been offered a penny in redundancy pay.• The last time I saved any money was my redundancy pay, but that soon went.• The tribunal ruled that all three women were entitled to redundancy pay.• As a result, a volunteer remains entitled to his statutory right to redundancy pay.• Thus the absence does not reduce accrued rights to redundancy pay or to notice entitlement. 