Annual Limits Increase details released

The most common limits increase as follows:

  • The cap on a week’s pay for Statutory Redundancy Payments, the basic award, and related purposes – up from £330 to £350;
  • Maximum compensatory award on a finding of unfair dismissal – up from £63,000 to £66,200;
  • Guarantee payment during lay offs – up from £20.40 to £21.50.

The new limits will come into force for dismissals (or the particular relevant event) on or after 1st February 2009. The statutory instrument with the full changes is here.