Increase in tribunal compensation limits
The Employment Rights (Increase of Limits) Order 2014 was laid before Parliament on 25 February 2014 and will come into force on 6 April this year. It confirms that from 6 April 2014:
- The limit on a week's pay will be increased from £450 to £464 (for the purposes of calculating some statutory payments such as redundancy payments or the basic award for unfair dismissal).
- The maximum compensatory award for unfair dismissal will be increased from £74,200 to £76,574 (or 52 weeks' actual pay whichever is lower).
The increases made by this Order reflect the increase in the retail prices index of 3.2% from September 2012 to September 2013.