Increase to Statutory Payment Rates from April 2023

In line with the annual increases each April, The Department for Work and Pensions has published the increase in statutory rates for the tax year 2023 – 2024, as detailed below:

• Statutory Sick Pay (SSP) increases from £99.35 per week to £109.40 per week

• Statutory Maternity, Paternity, Adoption, Shared Parental, Parental Bereavement Pay and Maternity Allowance will all increase from £156.66 per week to £172.48 per week

National Minimum Wage (NMW) & National Living Wage (NLW) will increase to:

• Over 23 years old (NLW) – from £9.50 per hour to £10.42 per hour

• 21 and 22 years old (NMW) – from £9.18 per hour to £10.18 per hour

• 18 and 20 years old (NMW) – from £6.83 per hour to £7.49 per hour

• 16 and 17 years old (NMW) – from £4.81 per hour to £5.28 per hour

• Apprentices (NMW) – from £4.81 per hour to £5.28 per hour

If you would like any further information on this article, or would like to discuss your employment law and HR matters, please don’t hesitate to contact us at hello@alphr.uk and we will be delighted to help you.