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24th February, 2017 by Alex Payton
An increase to compensation and redundancy payments will come into force on 6 April 2017. The increased rates will apply to any relevant events occurring on or after 6 April 2017. The current rates will apply to any matters arising before that date.
The Employment Rights (Increase of Limits) Order 2017 comes into force on 6 April 2017. The new compensation limits are as follows:
The increases reflect the increase in the retail prices index of 2.0% from September 2015 to September 2016.
Alex Payton comments: "Employers should ensure that the changes are taken into account from 6 April, particularly those anticipating redundancies or dismissals. Howes Percival will shortly be producing our popular facts and figures document containing all the up-to-date statutory rates and payments as well as details of qualifying periods for employment rights".
If you require any further information on the above or assistance with any of your compliance projects, please contact a member of the team.
The information on this site about legal matters is provided as a general guide only. Although we try to ensure that all of the information on this site is accurate and up to date, this cannot be guaranteed. The information on this site should not be relied upon or construed as constituting legal advice and Howes Percival LLP disclaims liability in relation to its use. You should seek appropriate legal advice before taking or refraining from taking any action.