Statutory Compensation Limits Are Increasing

From the 6th April, the compensation limits for some tribunal awards and other statutory payments will be increasing. These include:

• The maximum amount of a “week’s pay”, which is used to calculate statutory payments, payments to employees in the event of insolvency and other awards, will increase from £525 to £571.

• The maximum compensatory award for unfair dismissal will rise from £89,493 to £93,878, with an additional cap of one year’s salary on the unfair dismissal compensatory award.

• The limit on the daily amount of statutory guarantee pay will rise from £30 to £31

• The minimum basic award for certain unfair dismissals, such as dismissals for reasons of trade union membership or activities, health and safety duties or acting as an employee representative or workforce representative will rise from £6,634 to £6,959