February 1st Employment Law
The Government has increased the awards or payments payable to employees upon bringing a successful claim at the Tribunal. The amounts have been adjusted to take inflation into consideration. These changes reflect the necessity for awards and payments to keep in line with the current economic climate.
The changes to be effected are:
As of 1 February 2013, the maximum amount of a week's pay for the purposes of calculating a statutory redundancy payment and basic awards of compensation for unfair dismissal increases from £430 to £450 per week.
The maximum compensatory award for unfair dismissal goes up from £72,300 to £74,200, where the effective date of termination occurs on or after 1 February 2013.
The limit on statutory guarantee pay, i.e. the amount paid in lay-off or short-time working situations, increases to £24.20 per full day.
The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.