The Employment Rights (Increase of Limits) Order 2024 updates the financial thresholds for various employment claims, including unfair dismissal and redundancy payments. This statutory instrument is part of annual adjustments to ensure compensation limits in employment tribunal claims keep pace with inflation.
The Order modifies the limits on awards for unfair dismissal, redundancy payments, and other entitlements under employment law, as set out in the Employment Rights Act 1996. It aims to reflect changes in the cost of living, thus maintaining the real value of payments that employees are entitled to receive under employment rights legislation. By complying with these updated limits, businesses can manage their employment relations more effectively, providing fair compensation to employees while maintaining compliance with statutory requirements.
Benefits of compliance may include:
