What do we already know?
Annually in April the annual increase in statutory pay rates come into effect which are normally increase in line with the consumer price index (CPI).
The following proposed increases to statutory payments will be effective in April 2018:
The weekly rate of:
- Statutory Sick Pay (SSP) will rise from £89.35 to £92.05;
- Statutory Maternity Pay (SMP) and Maternity Allowance will rise from £140.98 to £145.18; and
- Statutory Paternity Pay (SPP), Statutory Shared Parental Pay (ShPP) and Statutory Adoption Pay (SAP) will rise from £140.98 to £145.18.
To be entitled to these statutory payments, the employee’s average earnings must be equal to or more than the lower earnings limit. The lower earnings limit is increasing from £113 to £116 in April 2018.