State redundancy claims fall by 90%

The economic recovery has seen a more than 90% reduction in the last five years in the number of people having to claim redundancy from the State because their employer was in financial difficulty or insolvency.

In 2011, there were 49,762 claims to the State under the redundancy payments scheme and that saw €312m deducted from the country’s social insurance fund (SIF).

The number of claims has been falling consistently since then and, in 2016, the number was 4,347 at a cost of €31m to the exchequer.