New proposals to promote settlement agreements
The Department for Business, Innovation and Skills has launched proposals to promote settlement agreements between employers and employees, as part of its employment law review. These include introducing a 12-month pay cap on the compensatory award for unfair dismissal, making template letters available to encourage the use of new settlement agreements, and developing guidance on issues to consider when negotiating financial settlements.
The overall unfair dismissal pay cap of £72,300 will remain in place. Bis has also lunched three consultations on: proposals to implement the Acas early conciliation process; proposals to reform TUPE; and plans to reform the regulatory framework for employment agencies.
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