Home | News | Rate for unfair dismissal and redundancy pay awards rise by nearly 9%

Rate for unfair dismissal and redundancy pay awards rise by nearly 9%

April 22nd 2024
 

The maximum limit for unfair dismissal awards and statutory redundancy pay has risen by nearly 9%.

Joanne Stronach Director and Head of Employment provides an update.

The increase takes into account the high rate of inflation over the last year.

The new rate is effective from 6 April.

The statutory cap for a week’s pay when assessing compensation for unfair dismissal is now £700, up from £643 during the previous 12 months. That is a rise of 8.87%.

The same cap also applies to weekly pay when calculating statutory redundancy payments.

Any additional compensatory award is capped at 52 weeks’ pay, with a new upper statutory limit of £115,115. That is up from £105,707 during the previous year.

If you would like more information about the issues raised in this article or any aspect of employment law please contact Joanne on 01228 516666 or click here to send her an email. 

Share on Facebook Twitter LinkedIn Email
We'll call you...
 
This site uses cookies.
ConfigureHide Options
 
Read our privacy policy

This site uses cookies for marketing, personalisation, and analysis purposes. You can opt out of this at any time or view our full privacy policy for more information.