Cyprus Redundancy Pay Calculator
Calculate your minimum statutory redundancy compensation
Employment Type
To find weekly, divide monthly by 4.33
Enter your employment details to calculate your redundancy pay.
How to Use the Redundancy Calculator
Follow these steps to calculate your statutory redundancy pay in Cyprus:
- 1
Enter your employment start date
Select the exact date you started working for this employer.
- 2
Enter your termination date
Select your last working day or expected termination date.
- 3
Enter your weekly gross salary
Input your gross weekly pay before any deductions. If paid monthly, divide your gross monthly salary by 4.33.
- 4
Select your employment type
Choose whether you worked full-time or part-time.
Cyprus Redundancy Pay Tiers
Redundancy pay in Cyprus is calculated using a tiered system based on completed years of continuous service. The current statutory formula (Termination of Employment Law) is:
| Years of Service | Weeks' Pay per Year |
|---|---|
| Years 1–4 | 2.5 weeks |
| Years 5–10 | 3.0 weeks |
| Years 11–15 | 3.5 weeks |
| Years 16–20 | 4.0 weeks |
| Year 20+ | 4.5 weeks |
Who Pays My Redundancy?
In Cyprus, statutory redundancy compensation is shared between two parties:
The Cyprus Government Redundancy Fund pays 60% of the calculated compensation. The Fund is financed by an employer contribution of 1.2% on all employees' gross earnings.
The employer is directly responsible for paying the remaining 40% of the statutory redundancy compensation to the employee immediately upon termination.
Frequently Asked Questions
What is the minimum qualifying period for redundancy pay?
You must have at least 26 weeks of continuous employment with the same employer to qualify for statutory redundancy pay.
Is redundancy pay taxable in Cyprus?
No, statutory redundancy pay received from the Redundancy Fund or the employer is exempt from income tax in Cyprus.
What happens if my company goes bankrupt?
If an employer goes into liquidation or bankruptcy, eligible employees will receive their full statutory redundancy compensation directly from the Redundancy Fund.
Is there a cap on the weekly salary used for the calculation?
Yes, the Ministry of Labour periodically sets a maximum weekly salary cap that can be used in the calculation. Any earning above this cap does not increase your statutory redundancy pay.
Does part-time work affect redundancy pay?
Yes, part-time employees are entitled to redundancy pay, but their weekly compensation is calculated proportionally based on their actual weekly earnings, just like full-time employees.
Are there notice periods for redundancy?
Yes, employees must be given proper notice before termination, ranging from 1 to 13 weeks depending on the length of service. You can use our Notice Period Calculator to find your exact entitlement.
Disclaimer
This calculator provides an estimate of the statutory minimum redundancy pay according to the Termination of Employment Law. It does not consider union agreements, private contracts, or voluntary redundancy schemes which may offer higher payouts. Always consult a legal or HR professional to confirm your exact entitlement.