The annual increases in compensation have been published. They take effect from 1st February 2004 under the Employment Rights (Increase of Limits) Order 2003.
The main increases are:
- maximum compensatory award increased from £53,500 to £55,000;
- maximum amount for a week's pay (for calculating basic award or redundancy payment) increased from £260 to £270.
The full list is attached as a Schedule to the S.I. (see link below).