The annual increase in Tribunal awards has been published.
For those dismissed after 6th April 2023, the cap on a ‘week’s pay’ for the calculation of the Basic Award or Statutory Redundancy Pay will increase from £571 to £643. This is an increase of over 12.5%.In contract, last years’ increase which was less than 5%.
The maximum Compensatory Award will also increase to £105,707 from £93,878. Again, this is an increase of over 12.5%.
16th March 2023