Updates on employment statutory rates and compensation limits
18th March, 2024
National Minimum Wage
Who does the rate apply to? |
Current hourly rate |
Increase from previous rate |
|
| Workers aged 21 and over | £11.44 | £1.02 (or £1.26 f0r those aged 21-22) | |
| Workers aged 18-22 inclusive | £8.60 |
£0.89
|
|
| Workers aged 16 & 17
|
£6.40 | £1.12 | |
| Apprentices aged under 19, or aged 19 and over but in the first 12 months of their apprenticeship | £6.40 | £1.12
|
|
| Apprentices aged under 19, or aged 19 and over but in the first 12 months of their apprenticeship
|
£6.40 | £1.12 |
Parents
Maternity pay |
||
Period |
Amount of pay |
Comparison with last year’s rate |
| First 6 weeks | 90% of the employee’s normal weekly earnings | |
| Subsequent 33 weeks | £184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Maternity AllowanceMaternity allowance is payable to those who are employed or who have recently stopped working (different rates apply to the self employed). |
||
| Up to 39 weeks | £184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Paternity pay |
||
| Up to 2 weeks | £184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Statutory adoption pay |
||
| First 6 weeks | 90% of the employee’s normal weekly earnings | |
| Subsequent 33 weeks | £184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Shared parental pay |
||
| Up to 39 weeks
Less any weeks spent by the child’s mother or adopter in receipt of Statutory Maternity Pay, Maternity Allowance or Statutory Adoption Pay |
£184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Parental bereavement pay |
||
| Maximum of 2 weeks
This can be taken in periods of one week or two consecutive weeks, or two separate weeks. |
£184.03 each week or 90% of the employee’s normal weekly earnings, whichever is lower. | £184.03 represents a £27.37 increase from last year’s rate. |
Sickness
| Up to 28 weeks
This can be a series of up to three separate periods of incapacity spanning up to 3 years |
£116.75 each week | Increase of £7.35 from last year’s rate. |
Changes to employment tribunal awards: April 2023 – April 2024
Week’s pay |
||
Award |
Minimum |
Maximum |
| The maximum amount of a ‘week’s pay’
Used to calculate statutory redundancy pay and various other payments (e.g. the basic award for unfair dismissal) |
No minimum | £700 |
Unfair dismissal |
||
| Unfair dismissal basic award |
No minimum
|
£21,000 |
Unfair dismissal basic award where the principal reason for dismissal is:
|
£8,533 | £ 21,000 |
| Unfair dismissal compensatory award | No minimum | £115,115 (the upper limit remains the lower of a year’s salary or the maximum statutory limit) |
| Unfair dismissal compensatory award where dismissal is connected with health and safety or public interest disclosure
|
No minimum | No maximum |
Redundancy |
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| Statutory redundancy payment
|
No minimum | £21,000 |
Injury to feelings: Vento Bands |
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There are three potential ‘bands’ for awards to be given where there has been injury to an employee’s feelings:
|
No Minimum | Lower band: £1,200- £11,700
Middle band: £11,700-£35,200
Top band: £35,200-£58,700 |