Unfair dismissal compensation and redundancy payment increases from April
Details of the latest increase to unfair dismissal awards and redundancy payments have been released.
For dismissals taking effect on or after 6 April 2024, the maximum compensatory award for unfair dismissal will increase to £115,115 and the rate of a week’s pay, used for calculating statutory redundancy payments and the unfair dismissal basic award, will increase to £700.
This represents an 8.9% increase, reflecting the increase in the retail prices index.
Details are contained in The Employment Rights (Increase of Limits) Order 2024 which has been laid before Parliament and will come into force on 6 April.
If you have any questions about the upcoming changes, please contact a member of our team, or submit an enquiry form below.
Emma Hamnett
Emma is an experienced employment litigator, advising on all aspects of employment law and strategy, for both employers and senior executives.
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Chris Brazier
Chris is an employment law partner who advises on all aspects of employment law at a strategic and practical level, for both corporate clients and senior executives across the UK.
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Posted by Louise Donaldson
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