Changes to the National Minimum Wage
As we move into April changes to the National Minimal wage come into effect, along with other financial benefits. These changes aim to provide workers with fair pay and help to tackle poverty.
New National Minimum Wage Payments:
• Workers aged 23 and over – £10.42
• Workers aged 21 to 22 inclusive – £10.18
• Development rate for workers aged 18 to 20 – £7.49
• Young workers aged 16 to 17 – £5.28
• Apprentices under 19, or over 19 but in first year – £5.28
• Apprentices aged 19 and over in first year: thereafter NMW – £5.28
• Accommodation offset – £9.10 per day or £63.70 per week
Family Friendly Benefits:
• Statutory shared parental pay – statutory rate or 90% of employees weekly earnings if this is lower – £172.48
• Statutory maternity pay – first 6 weeks, 90% of employee’s average weekly earnings. Remaining weeks at the statutory rate or 90% of employee’s weekly earnings if this is lower – £172.48
• Statutory adoption pay – First 6 weeks, 90% of employee’s average weekly earnings. Statutory rate of 90% of employee’s weekly earnings if this is lower – £172.48
• Statutory bereavement pay – this is a new family friendly benefit: employees with 26 weeks’ continuous service will be entitled to two weeks of paid leave at the statutory rate and other employees will be entitled to unpaid leave. Statutory rate or 90% of employee’s weekly earnings if this is lower – £172.48
Statutory Redundancy Pay:
• The weekly pay is subject to a maximum amount – £643
• Top award for statutory redundancy pay (30 weeks’ pay subject to the limit on a week’s pay) – £19,290
From 6 April 2023, under the Employment Rights (Increase of Limits) Order 2023, a number of limits applying to tribunal awards and other amounts payable under employment legislation increase. The new limits apply where the event that gives rise to the award or payment occurs on or after 6 April 2023.
If you need advice or support with the changes to employment law or understanding how this will impact upon your charity or business, Our MCIPD qualified HR Consultants are here to help! We can offer one-off advice and support or a more consistent service via an annual contract.
We can also take the headache out of monthly payroll. We have over 25 years’ experience in providing payroll services to businesses and charities ranging from 1 to 150 employees. No need to invest in the software or staff training when our team can provide efficient and accurate calculations of payroll, pensions, HMRC and other third-party payments.
If you are interested in any of our services, please send an email to enquiries@cbrsolutions.org.uk and we will be in touch.
