As the new financial year approaches, it’s time to ensure you’re aware of and processing the statutory pay increases for your team members.
Written by Sophie Eggleton, Senior HR Advisor
It’s that time of the year again whereby you will need to ensure you are aware of, and processing, the statutory pay increases for your team members. As the new financial year approaches, here’s what you need to know.
1st April 2023
With effect from 1st April 2023, the National Living Wage (NLW) and National Minimum Wage (NMW) rates are set to rise by around 10%. The new rates are:
| Aged 23 and over (NLW) | £10.42 per hour |
| Aged 21 – 22 year olds | £10.18 per hour |
| Aged 18 – 20 years old | £7.49 per hour |
| Under 18 years old | £5.28 per hour |
| Apprentice | £5.28 per hour |
The apprentice hourly rate applies to apprentices either aged under 19 years of age, or aged 19 and over and in the first year of their apprenticeship. Apprentices are entitled to the minimum wage rate for their age providing they are both aged 19 or over and have completed the first year of their apprenticeship.
2nd April 2023
In addition, effective from 2nd April 2023, the statutory rates for Maternity, Paternity, Adoption, Shared Parental and Parental Bereavement will also rise, please see the new rates below:
| Statutory Maternity Pay (SMP) *Weekly rate for the first 6 weeks | 90% of the employee’s average weekly earnings |
| Statutory Maternity Pay (SMP) *Weekly rate for the remaining weeks | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
| Statutory Paternity Pay (SPP) *Weekly rate | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
| Statutory Adoption Pay (SAP) *Weekly rate for the first 6 weeks | 90% of the employee’s average weekly earnings |
| Statutory Adoption Pay (SAP) *Weekly rate for the remaining weeks | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
| Statutory Shared Parental Pay (ShPP) *Weekly rate | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
| Statutory Parental Bereavement Pay (SPBP) *Weekly rate | £172.48 or 90% of the employee’s average weekly earnings, whichever is lower |
6th April 2023
The weekly rate for Statutory Sick Pay (SSP) will increase from £99.35 per week to £109.40 per week (for up to 28 weeks), this will be effective from 6th April 2023.
SSP is payable when your employee is sick for at least 4 days in a row (including non-working days), or from day 1 of the employees’ absence if they received SSP within the last 8 weeks, and that already included a 3-day waiting period before you paid them SSP.
As always, if you have any questions about the new rates, please don’t hesitate to contact the Agilio iTeam for further guidance.
You can stay on top of everything to do with your team, their well-being and employment with Agilio’s iTeam: the UK’s only dental-specific HR software and personal support service. For more info, book a consultation or contact us.
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