Limits, which apply to certain tribunal awards and statutory payments, are set to increase from 6 April.
Tribunal awards: new limits
The maximum compensatory award for unfair dismissal will rise from £78,962 to £80,541.
The minimum basic award for certain unfair dismissals such as dismissals for reasons of trade union membership or activities, health and safety duties, pension scheme trustee duties or acting as an employee representative or workforce representative, will rise from £5,853 to £5,970.
The maximum limit on a week’s pay, which is used to calculate statutory redundancy payments and various awards such as basic an additional awards for unfair dismissal, will rise from £479 to £489.
In cases involving dismissal, the new rates will only apply where the effective date of termination falls on or after 6 April 2017. The current rates will apply to dismissals made before that date.