The selection criteria for who is selected for redundancy has to be fair. It also has to be a genuine redundancy, they are not allowed to make you redundant simply to re-hire someone else on lower wages or worse terms and conditions. If either of these apply, then you may be able to bring a case to Employment Appeals Tribunal.
Otherwise, they are not obliged to pay more than statutory. But the advice above about negotiation is good, especially if the remaining staff are unionised and object to having an increased workload as a result of the positions being made redundant.
You can join a Union at this stage and ask for representation.