The new statutory pay amounts have been announced. Such rates are now CPI-linked so the rise will be of little surprise to those who pay keen interest to the economy.
Parental pay rates – including maternity, shared parental and adoption – have risen from £140.98 to £145.18, whilst sick pay has gone up £89.35 to £92.05. The lower weekly earnings limit to be entitled to SSP will now be £116 up from £113.
The rates will be active from April to 2018 and are published in advance so businesses can set their budgets accordingly.