From 6 April 2015:
- The maximum Compensatory Award for unfair dismissal will increase from £76,574 to £78,335.
- The limit on “a week’s pay” will increase from £464 to £475. This figure is used to calculate statutory redundancy payments and the “Basic” Award for unfair dismissal.
The new rates will apply where the event giving rise to the compensation, or payment, falls on, or after, 6 April 2015. For example, in an unfair dismissal claim where the effective date of termination is on, or after, 6 April 2015 the new limits will apply.