The annual changes to employment law rates and limits take effect in April each year. We set out below the upcoming changes so that employers can plan accordingly.

A week’s pay

The new statutory limit on a week’s pay will be 643 (up from 571) with effect from 6 April.

Statutory benefits

• Statutory sick pay will increase to 109.40 per week (up from 99.35) from 10 April.
• Statutory maternity, paternity, shared parental and adoption pay will increase to 172.48 (up from 156.66) per week from 10 April.
• The maximum amount of a statutory redundancy payment will increase to 19,290 (up from 17,130) from 6 April.

Tribunal Compensation

The annual increase to the maximum unfair dismissal basic and compensatory awards will apply to any dismissal which takes effect on or after 6 April 2023. The new rates are:

• Unfair dismissal basic award – 19,290 (up from 17,130).
• Unfair dismissal compensation award – 105,707 (up from 93,878).

National Minimum Wage

The new rates for the national living wage (for workers aged 23 and over) and the national minimum wage for younger workers will be as follows, with effect from 1 April:

• Age 23 and over – 10.42 per hour (up from 9.50).
• Age 21 – 22 – 10.18 per hour (up from 9.18).
• Age 18 – 20 – 7.49 per hour (up from 6.83).
• Age 16 – 17 – 5.28 per hour (up from 4.81).
• Apprentice rate – 5.28 per hour (up from 4.81).
  
  Read Full Story: https://news.google.com/rss/articles/CBMiVWh0dHBzOi8vd3d3LmZveHdpbGxpYW1zLmNv...