Increase In Compensation Limits

The government has announced the annual increase in compensation limits for employment tribunal awards and other statutory payments.

They are contained in The Employment Rights (Increase of Limits) Order 2024.

The two most important increases are:

a. maximum compensatory award for unfair dismissal: £105,707 to £115,115

b. limit on a week’s pay: £643 to £700

Other notable figures include:

a. minimum basic award for some forms of unfair dismissal rises from £7,836 to £8,533

b. statutory guarantee pay increases from £35 to £38 per day