Employment Facts and Figures 2023-2024
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The facts and figures for Employment.
Payment | Rate as at April 2023-April 2024 |
Family friendly payments | |
Statutory Maternity Pay | 6 weeks at 90% of normal weekly earnings
Then 33 weeks at £172.48 or earnings related rate if lower |
Statutory Paternity Pay | Two weeks at £172.48 |
Statutory Adoption Pay | 6 weeks at 90% of normal weekly earnings
Then 33 weeks at £172.48 or earnings related rate if lower |
Maternity Allowance | 39 weeks at £172.48 |
Shared Parental Pay | 39 weeks, less weeks spent by child’s mother/adopter in receipt of SMP, MA or SAP at £172.48 |
Statutory Parental Bereavement Pay | Two weeks at £172.48 |
Redundancy | |
Statutory Redundancy Pay (2 years’ service required, maximum service for SRP is 20 years)
Calculated on a formula: [appropriate amount] x [number of years’ service] x [weekly pay, subject to cap] “Appropriate amount” is: 0.5 week’s pay for each complete year of service in which employee was under 22 1 week’s pay for each complete year of service in which employee was 22-40 1.5 weeks’ pay for each complete year of service in which employee was 41 or over |
A week’s pay is subject to cap of £643
Formula is therefore currently: [appropriate amount] x [years’ service] x £643 Maximum £19,290 (= 1.5 x 20 x £643) |
Sickness | |
Statutory Sick Pay – payable after first 3 days’ sickness absence | Up to 28 weeks’ SSP per period of incapacity for work, at £109.40 per week |
Unfair dismissal | |
Basic award
Calculated on a formula: [appropriate amount] x [number of years’ service] x [weekly pay, subject to cap] “Appropriate amount” is: 0.5 week’s pay for each complete year of service in which employee was under 22 1 week’s pay for each complete year of service in which employee was 22-40 1.5 weeks’ pay for each complete year of service in which employee was 41 or over |
A week’s pay is subject to cap of £643
Formula is therefore currently: [appropriate amount] x [years’ service] x £643 Maximum £19,290 (= 1.5 x 20 x £643) |
Compensatory award | The lower of £105,707 or 52 weeks’ actual gross pay |
Wages | |
National Minimum Wage (per hour) | National Living Wage (23+): £10.42
Standard adult rate (21-22): £10.18 Development rate (18-20): £7.49 Young workers (16-17): £5.28 Apprentice rate (U19/19+ in year 1 of apprenticeship): £5.28 |
Accommodation offset (maximum daily deduction from NMW) | £9.10 |
Week’s pay | |
Maximum amount of a week’s pay for calculation of certain payments/awards | £643 |
Please contact us at employment@qlaw.co.uk with any queries on the above or if you require any advice on payments to which you are entitled as an employee, or which as an employer you may be obliged to pay.
Specific advice should be sought on any payments to be made to employees during or on termination of employment. The above rates are current as at December 2022, but usually change with effect from every April.
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