Statutory Payment rates are normally reviewed in April of each year. Below is a reminder of the current and up and coming position on Statutory Payments:
Maternity / Adoption Pay: SMP/SAP is paid for 39 weeks provided that a colleagues qualifying conditions are met. This equates to:
○ Pay rate for first 6 weeks: 90% of the employee’s average weekly earnings
○ AMP remaining weeks/ SAP: £123.06 (increase to £124.88 from April 2010) or 90% of average weekly earnings, whichever is less.
Statutory Sick Pay: £79.15 a week
Redundancy Pay: A Week’s Pay is currently capped at £380 a week and is due to be reviewed again in February 2011.
National Minimum Wage:
Hourly pay Rate:
○ £5.80 for workers aged 22 and older
○ £4.83 for workers aged 18 to 21
○ £3.57 for workers aged 16 to 17
These rates are normally reviewed each October. In October 2010 the National Minimum Wage is set to increase to £5.93 per hour.