The maximum compensatory award for unfair dismissal has increased from £72,300 to £74,200 where the effective date of termination occurs on or after 1 February 2013.
Other changes include:
- an increase in the maximum amount of a ‘week’s pay’ for the purposes of calculating a basic or additional award of compensation for unfair dismissal or a redundancy payment from £430 to £450; and
- an increase in the maximum amount of a guarantee payment payable to an employee in respect of any workless day from £23.50 to £24.20.
These new limits apply to any event that gives rise to the award of payment that occurs on or after 1 February 2013.