Annual Statutory Payments Increase

3.   INCREASE OF STATUTORY PAYMENTS

In April each year, the Government increases statutory payments and limits. We set out below the relevant statutory payments and limits which apply from 6 April 2014:

 

  • The maximum compensation award which can be ordered by an Employment Tribunal to an individual who has been unfairly dismissed has increased to, whichever is the lower of £76,574.00 or 52 weeks’ actual gross pay;

 

  • The cap on a week’s pay for the purpose of redundancy pay or unfair dismissal compensation payment has increased to £464;

 

  • Statutory maternity, paternity and adoption pay is now £138.18 per week;

 

  • Statutory sick pay has increased to £87.55 per week; and

 

  • The weekly lower earnings limit for national insurance contributions has increased to £111.

 

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