New statutory payment rates for 2024-25

News article

New rates for statutory payments in force from April 2024.

Employers should be aware that from April 2024 a number of statutory payment rates increase for the 2024-25 financial year.

Statutory Maternity, Paternity, Adoption, Shared Parental and Parental Bereavement Pay

From Sunday 7 April 2024, Statutory Maternity Pay, Statutory Paternity Pay, Statutory Shared Parental Pay, Statutory Adoption Pay, and Statutory Bereavement Pay all increase from £172.48 to £184.03 per week.

Statutory Sick Pay

From Saturday 6 April 2024, Statutory Sick Pay will increase from £109.40 to £116.75. The lower earnings limit remains at £123.

Statutory Redundancy Payment

From Saturday 6 April 2024, the Statutory Redundancy Payment will be limited to £729 a week. The maximum Statutory Redundancy Payment payable will be £21,870.

Rates and thresholds for employers 2024 to 2025.

First published 4 March 2024