Delay in change to statutory redundancy pay and compensation for unfair dismissal
21 January 2014
We normally see the Statutory Redundancy Pay rate and the limit on the amount of compensatory award for unfair dismissal increase on 1 February every year, however this year the changes will be implemented on 6 April.
The change has been detailed in Section 22 of the Enterprise and Regulatory Reform Act 2013.
The Employment Rights (Increase of Limits) order has not yet been approved by parliament so the 2014 rates are not known at this stage. We will of course publish the new rates as soon as they become available.
Current rates which came into force 1 February 2013 are:
- Weekly rate of Statutory Redundancy Pay - £450.
- Limit on the amount of compensatory award for unfair dismissal - £74,200.