On 28 November 2023, the Government published its proposals for pay rates for family friendly leave, statutory sick pay, and the lower earnings threshold to be applied from April 2024.
The proposals are:
- Statutory maternity, paternity, adoption, shared parental, parental bereavement pay will rise from £172.48 to £184.03 per week.
- Statutory sick pay will increase from £109.40 to £116.75 per week.
- The lower earnings threshold, at or above which employees must earn in order to receive various statutory payments, will remain unchanged at £123 per week.
These rates are yet to be confirmed and are provided for information only at this stage. Until they are confirmed, they should not be relied upon for financial planning, however it would be highly unusual for the government not to implement the increases as currently proposed.
As a reminder, the following changes to national minimum wage were confirmed last week:
- The national living wage age band will be expanded from 23 year olds and over, to 21 year olds and over.
- National living wage will rise from £10.42 to £11.44 an hour.
- National minimum wage for 18–20-year-olds will increase from £7.49 to £8.60 per hour.
- The apprentice rate and rate for those below 18 but over school leaving age will increase from £5.28 to £6.40 an hour.
CIPD – News Article.
Our HR Comment: – Proposed rates of SSP and family friendly leave announced | Consensus HR | Herts, Beds
Matthew P Chilcott, FCIPD, ACEL, Owner of Consensus HR comments: “Here. is some very valuable financial information for business owners so that they can prepare for the new proposed rates of pay applicable from April 2024 and budget accordingly.
YOUR OUTSOURCED HUMAN RESOURCES DEPARTMENT.
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