Statutory rates from April 2024

The Government annually announces increases to weekly statutory payments which take effect from April each year. The Employment Rights (Increase of Limits) Order 2024, has now been published.

The key increases to note are:
• A ‘week’s pay’ (this is used for basic award and redundancy payments calculations) increases to £700 (it was previously £643).
• In Northern Ireland it will increase to £729 (it was previously £669).

The above changes take effect from 6th April 2024 (broadly speaking, for dismissals taking place on or after that date).

Employers are required to provide certain benefits to those eligible including:
• Statutory Sick Pay (SSP)
• Shared Parental Pay (ShPP).
• Statutory Maternity Pay (SMP)
• Statutory Adoption Pay (SAP)
• Statutory Paternity Pay (SPP)
• Statutory Parental Bereavement Pay (SPBP)

For more information about rates and changes, download the PDF here.