Increase to statutory cap on redundancy payments

30th August 2023

The Average Weekly Earnings Report for 2023 was released on Friday 25 August meaning that effective from 26 September 2023 the cap on statutory redundancy payments increases to £920 per week for each full year of service.  Our 2023 redundancy booklet showing a fair process and also includes example letters that can be used throughout the process can be found on this link.