In this blog post, we’ll recap the annual increase to statutory pay rates, which include the National Minimum Wage and the statutory sick, maternity and paternity ay and more.
If your limited company has employees, it’s important to make sure that you keep up to date with these changes to make sure your policies are updated.
National Minimum Wage
From April 1 2022, the National Minimum Wage is as follows:
- £9.50 for those aged 23 and over
- £9.18 for those aged 21-22
- £6.83 for those aged 18-20
- £4.81 for those aged 16-17 and apprentices
- £8.70 per day for accommodation offset
From April 3 2022, the following types of statutory pay will be a weekly rate of £156.66 or 90% (whichever is lower) of the employee’s average weekly earnings:
- Statutory maternity pay (week 7 onwards)
- Statutory paternity pay
- Statutory adoption pay (week 7 onwards)
- Statutory parent bereavement pay
- Statutory shared parental pay
- Maternity allowance
Statutory sick pay
From April 3, 2022, statutory sick pay will increase from £96.35 to £99.35 per week and can be paid for up to 28 weeks.
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