Employment Law Payments and Awards – New statutory limits from February 2009Monday, December 8th, 2008
The following statutory limits take effect where the appropriate day for the particular payment, as specified in legislation, falls on or after the first day of February in the particular year. Section 34 of the Employment Relations Act 1999 provides that these limits are increased or decreased from 1 February each year according to the year-on-year change in the retail price index (RPI) at the previous September.
The increases shown for 1 February 2009 are calculated according to the statutory formulae and based on the rise in the RPI of 5.00% in the year to September 2008.
Note: *The Work and Families Act 2006 made provision for the redundancy pay limit to be increased on a single occasion by more than the RPI. The Government has not yet announced if and when it will make use of that measure.
The Employment Rights (Increase of Limits) Order 2008
The UK Payroll News is sponsored by HRD & Payroll Solutions