Related Posts
The government has now published its annual rate increases for 2024/2025. These new rates will come into effect on 8 April 2024.
The rate for statutory maternity pay, paternity pay, adoption pay, shared parental pay and parental bereavement pay will increase from £172.48 to £184.03 per week (or 90% of the employee’s weekly earnings if that amount is lower).
Statutory sick pay will also increase from £109.40 to £116.75 per week.
The amount of the weekly lower earnings limit, that applies to National Insurance contributions, below which employees are not entitled to these payments (but remain entitled to Maternity Allowance) will remain at £123.00.
Employers who have employees on sickness absence, maternity leave or are otherwise in receipt of any of these statutory entitlements in the lead up to April 2024 will need to budget for the increase in rates, as will those who expect employees to be entitled for the first time after the new rates are in place.
Please get in touch if you have any questions regarding the issues discussed in this article.
E: help@jma-hrlegal.co.uk / T: +44 (0)1252 821792
Recent Comments