Friday, April 4, 2014
Employment Facts – April 2014
Statutory Maternity Pay, Statutory Paternity Pay and Statutory Adoption Pay will increase from £136.78 to £138.18 from 6 April 2014
The rate of Statutory Sick Pay will increase to £87.55 per week on 6 April 2014. The lower earnings threshold for National Insurance purposes will rise from £109 per week to £111 per week on the same date.
The percentage threshold scheme which enables employers to recover any SSP paid in excess of 13% of their total NIC bill for the month comes to an end on 5 April 2014.
From that date employers are not able to recover any SSP paid to employers. However, employers have until 5 April 2016 to recover any recoverable SSP paid prior to 6 April 2014.
Increases to redundancy payments, tribunal awards and benefit rates from 6 April
A week’s pay for the purpose of calculating the basic award for unfair dismissal and redundancy payments increases from £450 to £464. The maximum Statutory Redundancy Payment will be £13,920 (30 weeks at £464)
The daily rate for guarantee pay increases from £24.20 to £25.
The maximum compensatory award for unfair dismissal increases from £74,200 to £76,574. (Since July 2013, the compensatory award for unfair dismissal is capped at the lower of 12 months' pay, or the maximum figure mentioned above.)
The minimum award for an automatically unfair dismissal (relating to trade union membership activities) increases from £5500 to £5676.
The National Minimum Wage rate is set at £6.31 per hour from 1 October 2013 and will increase to £6.50 per hour from 1 October 2014.
Also remember the following rates:
For those aged between 18-20 years it is £5.03 per hour
For those aged between 16-17 years it is £3.72 per hour
For Apprentices (those under the age of 19 and older apprentices in the first year of apprenticeship) it is £2.68 per hour
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