From 6 April 2015, the cap on the unfair dismissal compensatory award will increase from £76,574 to £78,335 and the cap on weekly pay (used to calculate the unfair dismissal basic award and statutory redundancy pay) will increase from £464 to £475.
This gives a maximum unfair dismissal award of £92,585. Note that since 29 July 2013 there has been an additional cap on the compensatory award of 12 months’ pay.
The increases are set out in the Employment Rights (Increase of Limits) Order 2015 SI 2015/226.
Also from 6 April 2015, the weekly rate of statutory sick pay will increase to £88.45 (from £87.55). The weekly flat rate of statutory maternity, paternity, adoption and (for those expecting a baby or to adopt on or after 5 April 2015) shared parental pay will increase to £139.58 (from £138.18) from 5 April 2015. These increases are set out in the Welfare Benefits Up-rating Order 2015 SI 2015/30.