The first week of April has seen an increase in a number of statutory payments. In particular, with effect from today the statutory rate of weekly pay increases from £489 to £508. This impacts the maximum statutory redundancy pay, which is now £15,240. The statutory cap on compensation for unfair dismissal has also increased to £83,682. These rates will apply to all dismissals that occur on or after 6 April 2017.
There have also been changes to the following statutory payments:
- With effect from 6 April 2018, the National Living Wage and National Minimum Wage;
- With effect from 6 April 2018, the statutory rates of maternity, paternity and adoption pay; and
- With effect from 6 April 2018, statutory sick pay.