Statutory Payments are payments that are made to employees to cover earnings lost when they are absent from work either due to illness or because they are becoming a parent.
The weekly rate of statutory maternity, paternity, adoption and shared parental pay will increase to £140.98 from 2nd April 2017
The statutory sick pay will increase to £89.35 from 6th April 2017.
The maximum statutory redundancy payment will increase to £14,670 and the cap on a statutory week’s pay will increase to £489.
If you have any questions on Statutory Payments please contact us.