2024 rates for family-friendly leave and statutory sick pay published
The Government has published its proposals for pay rates for family-friendly leave, statutory sick pay and the lower earnings threshold to be applied from April 2024.
The proposals are:
- statutory maternity, paternity, adoption, shared parental and parental bereavement pay will rise from £172.48 to £184.03 per week
- statutory sick pay will increase from £109.40 to £116.75 per week
- the lower earnings threshold, which is the minimum an employee must earn to entitle them to receive various statutory payments will remain unchanged at £123 per week.
These rates are yet to be confirmed and are provided for information only at this stage (although, it would be highly unusual for these proposals to be changed). Confirmation will be issued by the Treasury in good time before April 2024.
As a reminder, these proposed changes to the National Minimum Wage were confirmed last week.
- The National Living Wage age band will be expanded from 23-year-olds and over, to 21-year-olds and over.
- The National Living Wage will rise from £10.42 to £11.44 an hour.
- The National Minimum Wage for 18–20-year-olds will increase from £7.49 to £8.60 per hour.
- The apprentice rate and rate for those below 18 but over school leaving age will increase from £5.28 to £6.40 an hour.
121 HR Solutions will confirm these rates again prior to their implementation in April 2024 but if you have any questions relating to these payments please contact us at email@example.com