INCREASE IN STATUTORY BENEFIT PAYMENTS

In addition to the increase in National Minimum Wage coming into effect on 1st April 2024,
there are other statutory benefit payments that will also see new rates this year.

As of 6th April 2024, Statutory Sick Pay will rise to £116.75 per week from the 4th day of sickness,
and the cap for Statutory Redundancy Pay will increase to £700 per week.

Furthermore, the following changes will come into effect on 7th April 2024:

Type of payment	2024-2025 Rate
Statutory Maternity Pay	90% of employee’s weekly earnings for first 6 weeks, then for £184.03 or 90% of employee’s weekly earnings, whichever is lower, for the remainder of the leave (up to 39 weeks)
Statutory Paternity Pay	£184.03 or 90% of employee’s weekly earnings, whichever is lower
Statutory Adoption Pay	90% of employee’s weekly earnings for first 6 weeks, then for £184.03 or 90% of employee’s weekly earnings, whichever is lower, for the remainder of the leave (up to 39 weeks)
Statutory Shared Parental Pay	£184.03 or 90% of employee’s weekly earnings, whichever is lower
Statutory Bereavement Pay	£184.03 or 90% of employee’s weekly earnings, whichever is lower

Not sure who can help you remain complaint with statutory payments? WE DO.

Get in touch on 01325 488425 or email the team at admin@wedohr.co.uk

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