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Proposed increases for 2024 statutory pay rates published

Proposed increases for 2024 statutory pay rates published
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Peninsula Team, Peninsula Team

(Last updated )

The Government has published its proposed increases to maternity and other family leave pay and statutory sick pay

Hot on the heels of the national minimum wage increase announcement comes the news that the rates of certain statutory payments will increase from April 2024.

These rates are reviewed annually, but it’s not inevitable that they will increase. For 2024, some rates will go up, but others are proposed to stay the same.

The proposals are:

  • An increase from £172.48 to £184.03 per week for statutory maternity pay, statutory paternity pay, statutory adoption pay, statutory shared parental pay and statutory parental bereavement pay.
  • An increase from £109.40 to £116.75 per week for statutory sick pay (SSP).
  • The lower earnings threshold, at or above which employees must earn in order to receive various statutory payments, to remain unchanged at £123 per week.

Confirmation that these rates will be implemented as proposed is awaited. Experience of previous years tells us that it’s highly likely the proposed rates will indeed be in place from April 2024.

As a reminder, the following changes to national minimum wage were also recently confirmed:

  • National living wage rate will rise from £10.42 to £11.44 per hour.
  • Rate for 18–20-year-olds will increase from £7.49 to £8.60 per hour.
  • The apprentice rate and rate for those over school leaving age but not yet 18 will increase from £5.28 to £6.40 per hour

Importantly, the national living wage age banding will be expanded to include workers aged 21 and over. It’s currently payable to those aged 23 and over.

For answers on complying with national minimum wage law, visit BrAInbox today where you can find answers to questions like Do I have to implement NMW increases from 1 April each year?

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