April is soon upon us, and it is important for all of us to be aware of the upcoming increases to statutory rates. The National Minimum Wage and National Living Wage, as well as other statutory payments, will be rising in April.
The following rates that will come into force on 1st April 2023.
- National Living Wage (Age 23 +) – £10.42
- Age 21 – 22 – £10.18
- Age 18 – 20 – £7.49
- Age 16 – 17 – £5.28
- Apprentices (Under 19, or over 19 and in the first year of the apprenticeship) – £5.28 (previously £4.81)
In line with other rate increases the real Living Wage will also increase and will become £10.90 for the UK and £11.95 for London.
Time to Prepare: it is important to remember to pay this increase on time and in the next ‘pay reference period’ (the period within which the pay is calculated) after the increase has taken effect, which could be that the pay does not increase for the individual until some way into April.
Increases to other Statutory Payments
- Family-Friendly payments: maternity, paternity, shared parental and parental bereavement pay this will rise to £172.48 per week starting from the 2nd April.
- Statutory Sick pay is increasing to £109.40 per week.
- Statutory guarantee pay
- New compensation limit rates: a week’s pay will be £643 (for pay for calculating redundancy and the unfair dismissal basic award).
If you would like to discuss how these will affect you in more detail or require any advice, please contact info@gravitatehr.co.uk
