The proposed statutory rates due to come into force from April were announced at the end of last year, despite fears that Brexit might delay their publication. But with the start of the 2019/2020 financial year now just a few weeks away, we thought we’d post a little reminder for HR professionals to ensure they have planned their budgets and amended contracts and policies where necessary.
The revised rates for maternity, paternity, shared parental and adoption pay will occur on Sunday 7th April 2019 and the rate of statutory sick pay will increase on 6th April 2019.
From 1st April 2019, minimum hourly rates of pay will also rise. The National Living Wage, applicable to workers aged 25 and over, will increase almost 5% from £7.83 per hour to £8.21 per hour. This is estimated to benefit around 2.4 million workers and give those working full-time an annual pay rise of £690.
In line with recommendations from the Low Pay Commission (LPC), other National Minimum Wages will be increased as well.
More information can be found on the Government website: https://www.gov.uk/national-minimum-wage-rates