Maximum payouts rise February 2012
Posted date: 31 January 2012
Maximum compensation limits for unfair dismissal and redundancy payments increased on 1 February 2012.
Falling under the Employment Rights Act, from February onwards the weekly wage limit for calculating redundancy pay will rise by £30 to £430. This seemingly small cost may potentially have a big impact on employers, particularly if relieving a large number of employees.
The maximum award for unfair dismissal compensation has also gone up. Organisations can now face potential costs of up to £72,300, up from £68,400.
- Issue:
- February 2012
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