11 December 2012 #Employment
The limits on employment tribunal compensation awards will increase on 1 February 2013.
In cases involving dismissal, the new limits will apply where the effective date of termination falls on or after 1 February 2013. The new figures now mean that the maximum unfair dismissal award can be £87,700 (maximum basic award plus maximum compensatory award).
Please see below for a table showing a summary of the new award limits.
|
Compensation limit |
Current figure |
From 1st February 2013 |
|
Maximum compensatory award for unfair dismissal |
£72,300 |
£74,200 |
|
Maximum limit on a week`s pay (used to calculate redundancy pay and basic/ additional awards) |
£430 |
£450 |
|
Maximum basic award (and statutory redundancy pay) |
£12,900 |
£13,500 |
|
Minimum basic award for certain unfair dismissals (i.e. dismissals for reasons of trade union membership or activities, health and safety duties, pension scheme trustee duties or acting as an employee representative) |
£5,300 |
£5,500 |