New statutory rates published

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On 6 April 2014 certain statutory rates are increased:
  • Statutory sick pay increases from £86.70 to £87.55
  • Statutory maternity, paternity and adoption pay increases from £136.78 to £138.18

In relation to unfair dismissal, where the effective date of termination is on or after 29 July 2013, the maximum compensatory award from 1 February 2013 to 5 April 2014 is the lower of:

  • £74,200 or
  • 52 weeks’ gross pay where this is less than the overall cap

Details of the unfair dismissal compensation limit for 6 April 2014 to 5 April 2015 are still to be confirmed.