Veale Wasborough Vizards
23 FEB 2015
Tribunal compensation limits will increase
Associate, Veale Wasbrough Vizards
New compensation limits will take effect from 6 April 2015 under the Employment Rights (Increase of Limits) Order 2015.
In the event of a dismissal, these new limits will apply where the effective date of termination falls on or after 6 April 2015.
Details of the increases are set out below:
- Maximum compensatory award for unfair dismissal will increase from £76,574 to £78,335.
- Maximum limit on a week's pay for the purposes of calculating statutory redundancy payments, the basic award for unfair dismissal or payments to employees in the event of insolvency will increase from £464 to £475.