Nory calculates your bank holidays based on the formula provided by Irish Revenue. There are ten bank holidays in Ireland every year.
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💡 Any employee who has worked a total of 40 hours or more in the 5 weeks before the bank holiday will be paid for that bank holiday.
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Your bank holiday payment is calculated as one-fifth or 20% of your average working week, set as an average of your last 13 weeks of work.
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→ EXAMPLE 1: You work exactly 40 hours a week, for every week over the last 13 weeks. This means your average weekly hours is exactly 40 hours, and your bank holiday entitlement is 20% of this. In this example, your payment would be for 8 hours at your regular wage.
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→ EXAMPLE 2: You work exactly 40 hours a week, but you had two weeks’ holiday at some point in the last 13 weeks. This means your average weekly hours is 33.85 hours, taking into account your two holiday weeks being 0 hours. In this scenario, your payment would be for 6.77 hours at your regular wage.
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→ EXAMPLE 3: You work varied hours, sometimes 16 - 30 hours a week, depending on the week. As in all other scenarios, Nory will calculate how many hours your average week was over the last 13 weeks, and it will calculate your bank holiday payment as one-fifth of this number.
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✍️ NOTE: If you work the week of the bank holiday, you will be paid for the bank holiday premium. If you work on the day of the bank holiday, you will be paid your regular wage for that day AND you will be paid the bank holiday premium also.
Bank holidays will be paid immediately on the week in question. It will no longer be possible to hold your bank holidays for future dates.
As always, if you have any questions, just email us and we’ll do our best to help!