Under the annual index-linked formula new limits for unfair dismissal compensation, redundancy payments and other awards come into effect on 1 February.
The main changes are as follows:
- the limit on a week’s pay for calculating redundancy payments and the basic award for unfair dismissal increases from £380 to £400;
- the maximum compensatory award for unfair dismissal is increased from £65,300 to £68,400;
- guarantee payments increase from £21.20 to £22.20 per day; and
- the minimum basic award for unfair dismissal resulting from the health and safety, employee representatives, trade union and occupational pension trustee provisions increase from £4,700 to £5,000.
The new rates apply if the event giving rise to unfair dismissal or redundancy occurs on or after 1 February.
Full details are available here.