Statutory Employment Payments Rates 2023 – 2024
Statutory employment rates are changing from April 2023.
Employers should take action to ensure compliance, including reviewing and updating policies and documents, and adjusting statutory employment payments in line with the new applicable rates.
Statutory family-related pay rates 2023-2024
Family-related statutory weekly pay rates from 2 April 2023 are as follows:
| Statutory payment | Weekly rate 2023-2024 |
|---|---|
| Statutory Maternity Pay |
|
| Statutory Paternity Pay | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower. |
| Statutory Shared Parental Pay | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower. |
| Statutory Parental Bereavement Pay | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
| Statutory Adoption Pay |
|
Statutory redundancy pay calculations
The statutory redundancy pay limit is a maximum of £643 per week for redundancy dismissals on or after 6 April 2023.
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.
National minimum wage rates 2023-2024
From 1 April 2023, the national living wage for workers aged 23 and over is £10.42 per hour.
Other national minimum wage rates also increase from 1 April 2023, with hourly rates rising to £10.18 per hour for workers aged 21 and 22, to £7.49 for workers aged 18 to 20 and to £5.28 for workers aged 16 and 17. Apprentices’ minimum wage rises to £5.28 per hour.
Category of worker |
NMW hourly rate from 1 April 2023 |
|---|---|
| Aged 23 and above (national living wage rate) | £10.42 |
| Aged 21 to 22 inclusive | £10.18 |
| Aged 18 to 20 inclusive | £7.49 |
| Aged under 18 (but above compulsory school leaving age) | £5.28 |
| Apprentices aged under 19 | £5.28 |
| Apprentices aged 19 and over, but in the first year of their apprenticeship | £5.28 |
Statutory sick pay rate 2023-2024
The weekly rate of statutory sick pay is £109.40 per week from 6 April 2023.
Need assistance?
If you have a question about these changes in employment law and statutory payment rates, DavidsonMorris’ experienced employment lawyers can help. Working closely with our specialist human resource colleagues, we offer a holistic advisory and support service for employers encompassing both the legal and people risks of workforce management. Speak to our experts today for advice.
Last updated: 30 March 2023
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