 However, there is an upper limit set on what can be considered a week's pay, which is approximately the same as a week on the minimum wage (if you were made redundant on or before 31 January 2011, it was £380 per week - from 1 February 2011 to 31 January 2012, it was £400 - currently it is £508, before tax).This right, under section 182, to compensation for lost earnings is for when the employer goes broke.It applies in the unlucky cases where an employer has gone bankrupt or insolvent and there is no money left to pay the staff, who have outstanding pay cheques.