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Statutory Payments - Redundancy Pay, Guarantee Payments and tribunal awards
For Maternity and related payments, see Maternity/Paternity/Adoption Pay & Leave
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The following statutory limits will take effect where the appropriate day for the particular payment, as specified in legislation, falls on or after 1 February 2005. The increases are prompted by a rise in the retail price index in the year to September 2004 of 3.1%.
| Statutory Provision
| Old limit
| New limit
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| Minimum basic award for unfair dismissal or selection for redundancy on grounds related to union membership or activities
| £3,600
| £3,800
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| Minimum compensation awarded for exclusion or expulsion from a trade union
| £5,900
| £6,100
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| Limit on daily amount of guarantee payment
| £17.80
| £18.40
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| Minimum basic award for unfair dismissal for participation in health and safety activities, exercise of rights under the Working Time Regulations, activities as a pension scheme trustee, activities as an employee representative in connection with redundancies or a transfer of undertakings
| £3,600
| £3,800
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| Limit on amount of compensatory award for unfair dismissal
| £55,500
| £56,800
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| Maximum weekly amount paid from National Insurance Fund to pay contractual debts owed on the insolvency of the employer
| £270
| £280
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| Maximum weekly amount of a basic or additional award of compensation for unfair dismissal or redundancy payment.
| £270
| £280
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...back to 26 November 2004
Sources:
www.hmso.gov.uk/si/si2004/20042989.htm
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For Payroll and Human Resource Professionals
