Increases in the maximum amount of compensation that can be awarded by the Employment Tribunals have been confirmed.
Under the Employment Rights (Increase of Limits) Order 2024, the following limits will apply from 6 April 2024:
Maximum compensatory award
The maximum compensatory award rises from £105,707 to £115,115, allowing individuals to potentially recover higher compensation for losses suffered due to unfair dismissal, discrimination, or other employment tribunal claims.
Limit on a week’s pay
The limit on a week’s pay is increasing from £643 to £700, impacting calculations for various awards, including basic awards for unfair dismissal and statutory redundancy payments.
Maximum basic award
For some types of unfair dismissal claims, the minimum basic award is increasing from £7,836 to £8,533.
Statutory guarantee pay
The daily statutory guarantee payment for employees laid off or subjected to short-time working increases from £35 to £38.
