Statistics
Compensation and Statutory Awards
What can I expect?
From 2011:
Tribunal Awards - the annual increases in limits are:
• A weeks pay £400
• Maximum basic compensatory award/statutory redundancy payment £12,000
• Maximum compensatory award for unfair dismissal £68400
Holidays - Full time employees are entitled to 5.6 weeks including statutory holidays.
Statutory Maternity, Paternity (2 weeks only) and Adoption pay rises, after the first 6 weeks where it is 90% of average earnings to £124.88 (assuming the employee earns at least £124.88) per weeks for 39 weeks.All rates are revised to £128.73 from April 6th 2011.
Sick Pay rises to £79.15 per week.£81.60 from April 6th 2011
How to calculate redundancy pay?
|
1.5 Weeks Pay |
Each year of employment in which employee is aged 41 and above |
|
1 Weeks Pay |
Each year of employment in which employee is aged 22-40 |
|
0.5 Weeks Pay |
Each year of employment in which employee is aged 21 and under |
|
Maximum Weekly Pay |
£400 |
|
Maximum number of years |
Last 20 worked |
Michael Newman | SM Services | T: 020 8502 0846 | E: mnewman@ukemploymentlawadvice.co.uk