There are some new figures to remember when calculating redundancy pay for dismissals taking place from 6 April 2016, as helpfully summarised in this article.
Provided that a dismissal has a termination date of 6 April 2016 or later, the cap on a “week’s pay” for calculating statutory redundancy pay will go up by £4 to £479.
This in turn means that the maximum possible statutory redundancy payment (and unfair dismissal basic awards) will be £14,370.
For redundancies taking place on or around 6 April it important to consider what the actual date of termination is, rather than what date notice was given to the employee.
Significantly there is no such increase to statutory pay relating to parental rights (such as maternity and paternity pay). Statutory sick pay will remain at £88.45 per week.
April each year usually sees an increase in the payments due for statutory employment rights and benefits. But this year only some of these are increasing.