The new rates in relation to compensation limits come into force on 1st February 2008:
- The statutory limit on a week's pay (for unfair dismissal and statutory redundancy payments) will be increased from £310 to £330 for dismissals where the effective date of termination falls on or after 1st February 2008;
- The maximum compensatory award in unfair dismissal claims will be increased from £60,600 to £63,000; and
- The maximum basic award/statutory redundancy payment will be increased from £9,300 to £9,900.
The new weekly rates for Statutory Maternity, Adoption and Paternity Pay come into force for payment weeks starting on or after 6th April 2008:
- Statutory Maternity Pay – the first 6 weeks will be paid at the rate of 90% of average weekly earnings and the remaining weeks at the lesser of 90% of average weekly earnings or £117.18 (previously £112.75);
- Statutory Adoption Pay – the lesser of 90% of average weekly earnings or £117.18 (previously £112.75);
- Statutory Paternity Pay – the lesser of 90% of average weekly earnings or £117.18 (previously £112.75).
The new rate for Statutory Sick Pay comes into force on 6th April 2008 and the weekly rate will increase from £72.55 to £75.40.
Disclaimer
The material contained in this article is of the nature of general comment only and does not give advice on any particular matter. Recipients should not act on the basis of the information in this e-update without taking appropriate professional advice upon their own particular circumstances.
