The government has announced the annual increase in compensation limits for employment tribunal awards and other statutory payments. They are contained in The Employment Rights (Increase of Limits) Order 2024.
The two key increases are:
- maximum compensatory award for unfair dismissal: £105,707 to £115,115.
- limit on a week’s pay: £643 to £700.
At least those numbers will be easy to remember, even if the maximum compensatory award now sounds like the phone number for directory enquiries!
Other figures include:
- minimum basic award for some forms of unfair dismissal rises from £7,836 to £8,533.
- statutory guarantee pay increases from £35 to £38 per day.
The changes are subject to parliamentary approval. They are due to take effect from 6th April 2024.
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