google-site-verification: google0832fbfd810e9886.html

STATUTORY PAY RATES TO INCREASE

The weekly pay rates of statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP) and shared parental pay (ShPP) will all increase from £140.98 to £145.18.

Coinciding with the new tax year, statutory sick pay (SSP) will increase from 6th April from £89.25 to £92.05 a week. The average weekly earnings limit which an employee must reach to be eligible for these statutory payments will also rise from £113 to £116 a week.

NATIONAL LIVING WAGE and the MINIMUM WAGE increased on the 1st April 2018.

You will need to prepare for the changes and ensure you are paying your employees the new rates.

From the 01st April 2018 the Minimum Wage rates will increase as below:

  • 25+ year olds – NMW (National Living Wage) will increase from £7.50 to £7.83 per hour
  • 21 – 24 year olds – MW will increase from £7.05 to £7.38 per hour
  • 18 – 20 year olds – MW will increase from £5.60 to £5.90 per hour
  • 16 – 17 year olds – MW will increase from £4.05 to £4.20 per hour
  • Apprentice rate (for apprentices under the age of 19 or 19 and over but in the first year
    of apprenticeship) – MW will increase from £3.50 to £3.70 per hour

Checkout those companies Named and  Shamed for paying their workers under the MINIMUM WAGE – WAGAMAMA’S, TGI FRIDAYS AND EVEN STOKE CITY FOOTBALL CLUB, are amongst them!

PENSION AUTO ENROLMENT CONTRIBUTIONS INCREASED:

Employers Contribution has increased from 1% to 2%

Employees Contribution as now increased from 1% to 3%

These are now the MINIMUM STATUTORY CONTRIBUTIONS.