New unfair dismissal and statutory redundancy compensation limits from 1 February 2013

Some compensation limits increased on 1 February 2013.  The maximum unfair dismissal compensatory award has risen from £72,300 to £74,200, and the maximum amount of a week’s pay has risen from £430 to £450 (this increase in a week’s pay affects the basic award in an unfair dismissal claim and statutory redundancy calculation amongst other things).