April 2024 Rate Changes

28th March 2024

We can see the impact of high inflation is reflected in the rate changes which will apply from April 2024.

1. National Minimum Wage

New rates have been announced with effect from 01 April 2024:

Current Rate
Apprentice £5.28
Workers aged 16-17 £5.28
Workers aged 18-20 £7.49
Workers aged 21 and over (national living wage) £10.42
New Rate
Apprentice £6.40
Workers aged 16-17 £6.40
Workers aged 18-20 £8.60
Workers aged 21 and over (national living wage) £11.44

Employers should review their pay rates to ensure that they are compliant with the new rates of pay from 01 April 2024. Employers should also verify that payments for lower paid workers are still compliant and diarise any changes to pay once employees enter a new band or complete their apprenticeship.

2. Statutory Sick Pay

From 06 April 2024, statutory sick pay will increase from £109.40 per week to £116.75 per week.

However, the lower earnings threshold of £123 per week, which is the minimum that employees must earn in order to receive a statutory payment will remain the same.

3. Statutory Redundancy Pay

From 06 April 2024, the cap on the value of a week’s pay, which is used to calculate statutory redundancy payments or basic awards for unfair dismissal will increase from £643 to £700, a nice round number making redundancy pay calculations easier.

4. Statutory Family Leave Pay

From 07 April 2024, the weekly rate of statutory maternity pay, statutory paternity pay, statutory shared parental pay, statutory adoption pay and statutory parental bereavement pay will increase from £172.48 per week to £184.03 per week or 90% of the employee’s average weekly earnings, whichever is lower.

Employers will need to budget for the increase in costs to ensure that their payroll is updates accordingly so that the April increases are factored into the employee’s pay. Employees should also review and update policies where appropriate.

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