The necessity of involuntary redundancy insurance

More than 1 in 10 of private sector employees under a collective employment agreement do not have any redundancy pay. This number of private sector employees on collective employment agreements (CEAs) walking away with nothing has doubled since 2009 when this was only 5%. According to Victoria University’s Centre for Labour Employment and Work, many people aren’t even covered by CEAs. For those employees under an individual employment agreement, entitlements to redundancy money are rarely present.