- Written by
- James Millican, Trainee Solicitor
The government has announced the annual changes in compensation limits for awards in the employment tribunal and other statutory payments.
These changes are contained in ‘The Employment Rights (Increase of Limits) Order 2024’.
The key increases are:
- maximum compensatory award for unfair dismissal: £105,707 to £115,115.
- the limit on a week’s pay when calculating redundancy pay has been raised from £643 to £700.
- minimum basic award for some forms of unfair dismissal rises from £7,836 to £8,533.
- the ‘statutory guarantee pay’ increases from £35 to £38 per day.
These changes are pending parliamentary approval, however if approved, they are due to take effect from 6 April 2024.
Related Insights
-
We are pleased to announce we feature in the 2025 Chambers Guide!
News | 17 October 2024
-
An unsettling conclusion?
Advice | 22 January 2024
-
The Employment (Allocation of Tips) Act 2023 : Part 2 – Key Requirements and Enforcement
Advice | 25 May 2023
-
Adoption rights; what employers need to know
Advice | 10 January 2023
-
Ikea cuts sick pay for unvaccinated staff forced to self-isolate
Advice | 10 January 2022
-
Key employment cases regarding coronavirus and Supreme Court decisions
Advice | 2 July 2021