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People Matter Newsletter – Minimum Wage Rates

 

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Minimum wage rates

The minimum wage rates changed at the beginning of April. Find what you need to know below:

• Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP), Statutory Adoption Pay (SAP) and Statutory Shared Parental Pay (SSPP) will increase from £145.18 per week to £148.68 per week.
• The Statutory Sick Pay (SSP) rate will also increase from £92.05 per week to £94.25 per week.
• The qualifying weekly lower earnings limit threshold for SMP, SPP, SAP, SSPP and SSP will rise from £116 per week to £118 per week.
• The National Living Wage (NLW) and the National Minimum Wage (NMW) From 1 April the new pay rates will be as follows:
• The NLW for workers aged 25 or older will increase from £7.83 to £8.21 per hour.
• The rate for workers aged 21 to 24 will increase from £7.38 to £7.70 per hour.
• The development rate for workers aged 18 to 20 will increase from £5.90 to £6.15 per hour.
• The young workers rate (non-apprentices aged under 18) will increase from £4.20 to £4.35 per hour.
• The apprenticeship rate will increase from £3.70 to £3.90 per hour.
• The amount of a week’s pay for various statutory calculations, including statutory redundancy payments, will increase from £508 to £525.
• The statutory cap for unfair dismissal compensation will increase from £83,682 to £86,444

 

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