The Government announced in this year’s Budget that it would increase the weekly limit used to calculate statutory redundancy pay to £380. At the time of the announcement, it was unclear when this increase would take effect.
The Government has confirmed this week that the increase to the limit from £350 to £380 will take place on 1 October 2009.
The increase to the weekly redundancy pay limit usually occurs in February each year. However, the Government has stated that there will be no further increase in February 2010, but that the cap will remain at £380 until February 2011.
Source: RadcliffesLeBrasseur Solicitors
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