Compensation Awards
The Government has announced the latest annual increase in compensation limits for Employment Tribunal awards, which will apply from 6th April 2024.
The limit on a week’s pay is to increase from £643 to £700. This figure is relevant for those calculating both the basic award in unfair dismissal claims, and also for any statutory redundancy payments for dismissals taking place after 6th April.
The maximum compensatory award for unfair dismissal claims will increase from £105,707 to £115,115. Again this applies to dismissals after 6th April. Calculation of compensatory awards is subject to numerous factors, and is subject to a maximum of either this figure or 12 months’ gross earnings (if that is lower).
The minimum basic award in limited categories of unfair dismissal claims will increase from £7,836 to £8,533.
Posted on 03/05/2024 by Ortolan