There are a number of April 2018 changes in statutory payments.
National Living Wage
The National Living Wage or NLW has been increased as follows:-
The NLW for workers aged 25 or over has increased to £7.83.
National Minimum Wage
The National Minimum Wage or NMW has increased as follows:-
The NMW standard rate has for workers ages 21 to 24 increases to £7.38;
The NMW development rate for workers aged 18 to 20 increases to £5.90;
The NMW for young workers rate for those aged 16 and 17 increases to £4.20; and
The NMW Apprenticeship rate increases to £3.70.
Statutory Family Pay Rates
The standard weekly rates of Statutory Maternity Pay (SMP), Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Paternal Pay (ShPP) has increased to £145.18.
The rate of Statutory Sick Pay (SSP) increased to £92.05.
Statutory Guarantee Payment
The maximum daily rate for layoffs or short time working increases to £28.00 – subject to a maximum of five days in any three month period.
If you require any advice or assistance on the application of these rates please contact Paul Beck or Rory Nelson on 0151 231 6620 to discuss them.