From April 6th, a number of changes in relation to statutory pay will come into effect.
- 5th April 2017
- Benjamin Jones
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From 6th April 2017 the maximum amount of Statutory Redundancy Pay will increase.
Redundancy pay for employees with at least two years’ service will be based on the employee’s weekly pay, length of service and age. The weekly pay is subject to a maximum amount and this is increasing from £479 to £489.
This means that the top award of Statutory Redundancy Pay will increase from £14,370 to £14,670.
On the same date it should be noted that rate of Statutory Sick Pay (SSP) will also increase from £88.45 to £89.35 per week.
These changes follow the recent increases to Statutory Maternity Pay, Paternity Pay, Adoption Pay and Shared Parental Leave Pay that took place on 2nd April 2017. These increased from £139.58 per week (or 90% of employee’s earnings if lower), to £140.98 per week (or 90% of employee’s earnings if lower).
If you would like any further information or wish to discuss any employment matters in general, please contact Karl Thomas.