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.