New redundancy pay rates from 6 April 2015

13 February 2015

The new rates, due to come in to force on 6 April 2015, will see an increase to the weekly rate of Statutory Redundancy Pay from £464 to £475.

The Employment Rights (Increase of Limits) order 2015 was laid before Parliament on 13 February 2015.

The limit on the amount of compensatory award for unfair dismissal also sees an increase from £76,574 to £78,335. The daily guaranteed payment will increase from £25 to £26.