Employment tribunal compensation limits will increase from 1 February 2013, as will the cap on a week's pay when calculating statutory redundancy payments:
- The maximum compensatory reward for unfair dismissal will rise from £72,300 to £74,200.
- The cap on a week's pay for statutory redundancy and basic unfair dismissal awards will go up from £430 to £450.
In dismissal situations, the effective date of termination must fall on or after 1 February for the new figures to apply.
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