This article summarises the national living wage, national minimum wage, compensation limits, and statutory rate changes from April 2024. We have noted the new rates and the dates that they will come into force.
April 2023 (Current rate)
| 23 and over | 21 – 22 | 18 – 20 | Under 18 | Apprentice |
| £10.42 | £10.18 | £7.49 | £5.28 | £5.28 |
New rate from 1st April 2024
| 21 and over | 18 – 20 | Under 18 | Apprentice |
| £11.44 | £8.60 | £6.40 | £6.40 |
It is important to note that for the first time, workers aged 21 and 22 will be entitled to the National Living Wage. Previously, it was only those aged 23 and over.
Apprentices are entitled to the apprentice rate if they are:
April 2023 (Current rate)
| Statutory Sick Pay | £109.40 |
| Lower earnings limit (per week) | £123 |
New rate from 6th April 2024
| Statutory Sick Pay | £116.75 |
| Lower earnings limit (per week) | £123 |
It is important to note that the lower earnings limit (per week) will remain the same.
| April 2023 (Current rate) | New rate from 7th April 2024 | |
| Statutory Shared Parental Pay (ShPP) Statutory rate or 90% of employee’s weekly earnings if this is lower. | £172.48 | £184.03 |
| Statutory Maternity Pay (SMP) First six weeks – 90% of employee’s average weekly earnings. The remaining weeks at the statutory rate or 90% of the employee’s weekly earnings if this is lower. | £172.48 | £184.03 |
| Statutory Adoption Pay (SAP) First six weeks – 90% of employee’s average weekly earnings. Remaining weeks at the statutory rate or 90% of the employee’s weekly earnings if this is lower. | £172.48 | £184.03 |
| Statutory Paternity Pay (SPP) Statutory rate or 90% of employee’s weekly earnings if this is lower. | £172.48 | £184.03 |
| Statutory Parental Bereavement Pay (SPBP) Statutory rate or 90% of employee’s weekly earnings if this is lower. | £172.48 | £184.03 |
| April 2023 (Current rate) | New rate from 6th April 2024 | |
| A Week’s Pay – Calculating Redundancy Pay A ‘week’s pay’ for purposes such as calculating statutory redundancy payments, payments to employees in the event of insolvency, and various awards including the unfair dismissal basic and additional awards. | £643 | £700 |
| Maximum Compensatory Award for Unfair Dismissal | £105,707 | £115,115 |
| Minimum Basic Award for Certain Unfair Dismissals For example, if an employee is dismissed for being a health and safety or trade union representative or member. | £7,836 | £8,533 |
| Statutory Guarantee Pay Daily limit to pay employees for the first 5 workless days if you lay them off work. | £35 | £38 |
These changes will apply to dismissals on or after the 6th April 2024.
Your employee documentation such as employee handbook and contracts of employment must be reviewed and updated to reflect the changes. The team at HPC can help to ensure you are up-to-date and compliant with the upcoming HR and Employment Law changes.
To find out more information or if you require any advice surrounding the upcoming rate changes, get in contact with our team of experts.
T: 0330 107 1037
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