The limit on the amount of the compensatory award for unfair dismissal will increase from £68,400 to £72,300 from 1 February 2012. Other increases include the following.
- The maximum amount of a “week’s pay” for the purposes of calculating a basic or additional award of compensation for unfair dismissal or redundancy payment will rise from £400 to £430.
- The maximum amount of guarantee payment payable to an employee in respect of any day will increase from £22.20 to £23.50.
The new limits are applicable where the event that gives rise to the award or payment occurs on or after 1 February 2012.