New limits for basic and compensatory awards for unfair dismissal and for redundancy payments will be in force from 1 February 2009 for dismissals occuring on or after that date.

A week’s pay used for calculating basic award and redundancy payment will increase from £330 to £350 making the maximum basic award/redundancy payment £10,500.

The maximum compensatory award will increase from £63,000 to £66,200.

For more details see here.