If you've worked for two years at the company you are entitled to redundancy pay. There are two types of redundancy pay, statutory and contractual.
Statutory redundancy pay is pay all employers have to pay by law if you've worked at the company continuously for two years.
Contractual redundancy pay is additional payment that is only entitled to employees if it is stated in your employment contract.
How much statutory redundancy pay you’re entitled to depends on how long you've worked for your employer, how old you are and how much you earn a week. The redundancy pay limit is capped at £430.