April is when statutory payments increase. Here’s the new rate details.
1st April 2023 - minimum wage rates:
· Ages 23 or over, £10.42 per hour
· Ages 21 to 22, £10.18 per hour
· Ages 18 to 20, £7.49 per hour
· Ages 16 to 17, and apprentices, £5.28 per hour
2nd April 2023 - statutory family pay increases:
· Statutory maternity pay, paternity pay, adoption pay shared parental pay, parental bereavement pay and Maternity Allowance will increase to £172.48 per week.
6th April 2023 – statutory sick pay
· Statutory sick pay will increase to £109.40 per week.
These are the minimum legal payments and of course, employers can pay more.
If you have monetary amounts in your policies, the documents will need to be updated.
Watch #HRFrommyshed for free guidance on statutory payments