The Employment Rights (Increase of Limits) Order 2023, which sets out the annual increases to the awards in the Employment Tribunal, has been published. The new increased limits will come into force on 6 April 2023.
The increased rates apply where the event giving rise to the entitlement to compensation (such as dismissal) occurs on or after 6 April 2023. The current rates remain in place where the relevant event was before 6 April 2023.
Employers will need to be aware of these increases for the purposes of calculating various awards.
The limit on a week’s pay is also relevant to employers’ calculations of statutory redundancy payments; therefore, employers may need to budget for higher redundancy packages for any redundancies which take effect on or after 6 April 2023.
For more information, please contact our Employment team.
The Employment Rights (Increase of Limits) Order 2023, which sets out the annual increases to the awards in the Employment Tribunal, has been published. The new increased limits will come into force on 6 April 2023.
The increased rates apply where the event giving rise to the entitlement to compensation (such as dismissal) occurs on or after 6 April 2023. The current rates remain in place where the relevant event was before 6 April 2023.
Employers will need to be aware of these increases for the purposes of calculating various awards.
The limit on a week’s pay is also relevant to employers’ calculations of statutory redundancy payments; therefore, employers may need to budget for higher redundancy packages for any redundancies which take effect on or after 6 April 2023.
For more information, please contact our Employment team.
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