The weekly rate of statutory maternity, paternity, adoption and shared parental pay will increase to £140.98 for pay weeks commencing on or after 2 April 2017. The weekly rate of statutory sick pay will increase to £89.35 from 6 April 2017. Please make sure you are applying the correct rates.
The government has also announced two further rate increases which will take place on 6 April 2017:
- The maximum amount used to calculate a week’s pay will increase from £479 to £489. This rate is used when calculating statutory redundancy pay, amongst other things.
- The maximum amount for the compensatory award in unfair dismissal claims will increase from £78,962 or the employee’s annual salary (whichever is lower) to £80,541 or the employee’s annual salary (whichever is lower).
If you need any help with payroll or contract changes please get in touch with the team on 01924 827869.