Statutory employment payments 2023-2024

    statutory employment payments

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    Statutory employment payments 2023-2024

    Employers must ensure they are paying the correct rates for statutory employment payments, and take action to review and update policies and documents to reflect changes in the prevailing rates.

    Statutory sick pay (SSP)

    From April 2022, statutory sick pay is set at £99.35 per week.

    From 2 April 2023, SSP is £109.40 per week.

    The weekly earnings threshold that employees must earn to be eligible is £123 per week.

    Statutory family-related pay

    From April 2022, family-related statutory weekly pay is set as follows:

    Statutory payment Rate 2022-2023
    Statutory Maternity Pay £156.66
    Statutory Paternity Pay £156.66
    Statutory Shared Parental Pay £156.66
    Statutory Parental Bereavement Pay £156.66
    Statutory Adoption Pay £156.66

    From 2 April 2023, family-related statutory weekly pay is as follows:

    Statutory payment Rate 2023-2024
    Statutory Maternity Pay £172.48 per week
    Statutory Paternity Pay £172.48 per week
    Statutory Shared Parental Pay £172.48 per week
    Statutory Parental Bereavement Pay £172.48 per week
    Statutory Adoption Pay £172.48 per week

    Again, the weekly earnings threshold that employees must earn to be eligible will remain at £123 per week.

    Statutory redundancy pay

    The statutory redundancy pay limit is £571 per week from 6 April 2022. Employers that dismiss employees for redundancy must pay those with two years’ service an amount based on the employee’s weekly pay, length of service and age, subject to the maximum amount of £571 per week.

    This level is expected to be increased from April 2023, with the new level to be set within the draft Employment Rights (Increase of Limits) Order 2023.

    National minimum wage increases

    From 1st April 2023, minimum wage levels will be:

    • £9.50 to £10.42 for workers aged 23 and over (the national living wage)
    • £9.18 to £10.18 for workers aged 21 or 22
    • £6.83 to £7.49 for workers aged 18 to 20
    • £4.81 to £5.28 for workers aged under 18 who are no longer of compulsory school age
    • £4.81 to £5.28 for apprentices under 19, or over 19 and in the first year of the apprenticeship

    Legal disclaimer

    The matters contained in this article are intended to be for general information purposes only. This article does not constitute legal advice, nor is it a complete or authoritative statement of the law, and should not be treated as such. Whilst every effort is made to ensure that the information is correct, no warranty, express or implied, is given as to its accuracy and no liability is accepted for any error or omission. Before acting on any of the information contained herein, expert legal advice should be sought.

    Author

    Gill Laing is a qualified Legal Researcher & Analyst with niche specialisms in Law, Tax, Human Resources, Immigration & Employment Law.

    Gill is a Multiple Business Owner and the Managing Director of Prof Services - a Marketing & Content Agency for the Professional Services Sector.

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