28th February 2014

INFORMATION

UPDATE

Issue No. 2014/04

RATE CHANGES

It’s that time of year again.

Guarantee Pay / Tribunal Awards

Announced this week are the following changes:

	Current Rate	New Rate	Effective From
Guarantee Pay	£24.20	£25.00	06/04/14
The limit on the amount of a weeks pay for the purposes of calculating, among other things, statutory redundancy payments and the basic award for unfair dismissal	£450.00	£464.00	06/04/14
The maximum compensatory award for unfair dismissal subject to the overarching limit of one year’s pay	£74,200	£76,574	06/04/14
The minimum basic award in cases where the dismissal was unfair by virtue of health and safety, employee representative, trade union, or occupational pension trustee reasons	£5,500	£5,676	06/04/14

Statutory Rate Changes

	Current Rate	New Rate	Effective From
Statutory Maternity, Paternity, Additional Paternity & Adoption Pay	£136.78	£138.18	06/04/14
Maternity Allowance	£136.78	£138.18	07/04/14
Statutory Sick Pay	£86.70	£87.55	06/04/14
Earnings threshold for SSP, SMP, SPP and SAP	£109.00	£111.00	06/04/14

Note: Strangely this year when calculating Maternity Allowance, the Order will come into effect on 7th April 2014, a day later than its ‘bedfellows’.

And finally…

National Minimum Wage

As you may have seen in the press this week, the Low Pay Commission has made its recommendations in respect of increasing the National Minimum Wage. These recommendations are usually accepted by the Government, but this year the increase in the adult rate is recommended at 3% which is higher that previous years increases, so it will be interesting to see if it will be accepted… we suspect it will be; there is an election looming.

The Low Pay Commission has put forward the following recommendations for implementation with effect from 1st October 2014:

	Current Rate	Recommended Rate
Workers aged 21 and over	£6.31	£6.50
Workers aged between 18 and 20	£5.03	£5.13
Training Rate	£5.03	£5.13
Workers aged under 18 but above compulsory school age (who are not apprentices)	£3.72	£3.79
Apprentices	£2.68	£2.73
Daily accommodation offset	£4.91	£5.08

As usual, please get in touch if you would like to discuss any of the above.

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