New statutory redundancy pay rate for April 2015 announced
Latest tribunal award limits increases announced including the new statutory redundancy pay rate. From 6 April 2015, under the Employment Rights (Increase of Limits) Order 2015 (SI 2015/226), a number of limits applying to tribunal awards and other amounts payable under employment legislation increase. A maximum amount of a week's pay increases from £464 to £475 for the purpose of calculating various awards including the basic award for unfair dismissal and statutory redundancy pay. The new maximum statutory redundancy payment will increase to £14,250.