Employment: Pre-judgment interest in discrimination cases reduced

Posted on 6th January, 2009

Estimated reading time 1 minute

Unlike most other types of claims in the employment tribunals, claimants in discrimination cases can claim interest on losses incurred up to the date of judgment.  The interest accrues on a daily basis and is simple, not compounded.

The applicable interest rate in England and Wales is set by the Lord Chancellor.  The interest rate was reduced from 6% to 3% on 1 February 2009 and was further reduced to 1.5% on 1 June 2009.

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