For the year 2012/2013 the Department for Business, Innovation and Skills (BIS) announced in December that the compensation limits would rise in relation to the Retail Price Index (RPI) as follows;
- The maximum compensation the Tribunal can award in capped cases such as ordinary unfair dismissal will rise from £68,400 to £72,300; and
- One week’s pay for the purposes of calculating the basic award and statutory redundancy payments is to rise from £400 to £430, making the maximum redundancy payment £12,900.
These changes will take effect from 1 February 2012.
