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Compensation limits to increase in 2013
The Government has published the Employment Rights (Increase of Limits) Order 2012. Compensation limits are set to increase next year.
The key limits to be aware of are as follows:
- compensatory awards for unfair dismissal will rise from £72,300 to £74,200;
- limit on a week’s pay used to calculate redundancy payments and the unfair dismissal basic award will increase from £430 to £450; and
- the maximum guarantee payment payable to an employee in respect of any day under the Employment Rights Act 1996 will rise from to £23.50 to £24.20.
The revisions made by the Order will take effect when the event giving rise to the entitlement to compensation/other payment occurs on or after 1 February 2013.
Click here to see a copy of the Employment Rights (Revision of Limits) Order 2012.
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