New compensation limits have been
published. The new limits will apply
where the event giving rise to the compensation occurs on or after 6 April
2014. So, if someone is dismissed in March and brings a claim in April, the old limits will apply to them, but the new limits will apply to anyone who is dismissed on or after 6 April.
The new limit on the amount of a
week’s pay will increase from £450 to £464.
This is used to calculate statutory redundancy payments and the basic
award for unfair dismissal. This will
bring the maximum statutory redundancy award to £13,920.
The maximum compensatory award for
unfair dismissal is currently the lower of one year’s pay and £74,200. This will change to the lower of one year’s
pay and £76,574.