In reply to robert-hutton:
Sorry to hear it.
If it's redundancy then the minimum is set by statute:
https://www.gov.uk/redundant-your-rights/redundancy-pay
One thing to watch is the 20 year cap on statutory redundancy; they should calculate using the most recent 20 years (when you were older and hence accrue more), not the first 20 years.
You also need to examine your contract very closely. If you have a notice period, this should be in addition to any redundancy payment and PILON (pay in lieu of notice) should also include payment for any benefits or allowances you get (pension, use of car etc.).
The first £30k of any redundancy payment is tax-free; PILON is taxed as income.
You should examine the company policy on redundancy, if there is one. It can't be less than the statutory rate.
If it is a compromise agreement then you should seek an uplift on terms (unless you have done something to justify removing you).