Limits on Statutory Payments in Employment
Almost every year there is an increase to the capped payments for various employment related issues and this year is no different, although the increases, where made, are very small. For instance the cap on a week’s pay, for redundancy or a basic award at the employment tribunal, has increased from £475 to £479. The limit on a compensatory award at the employment tribunal has increased from £78,335 to £78,962 or the claimant’s annual salary whichever is the lowest.
A great percentage of the statutory payments have remained to same for this year, guarantee payments if you have to lay someone off for a short while remains at £26 per day and each of the so called family friendly payments remain the same, shared parental pay, statutory maternity pay etc. all stay at £139.58
Statutory Sick Pay stays the same at £88.45 per week
The logic behind maintaining the same levels on these payments is that the Consumer Prices Index fell by 0.1% at the relevant time.
For more information on any statutory payments, please call our employment law experts on the head office number: 0115 988 6211 or contact us by email.