The government has announced the annual increase in compensation limits for Employment Tribunal awards and other statutory payments.
The main changes are as follows:
- Maximum compensatory award is up from £105,707 to £115,115 (for unfair dismissal claims only).
- Minimum basic award is up from £7,836 to £8,533 (for some forms of unfair dismissal).
- Limit on a week’s pay is up from £643 to £700 (used when calculating redundancy and basic pay).
These changes are subject to parliamentary approval. The new limits will apply to claims brought on or after 6 April 2024 and not before.
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