STATISTICS

UP-TO-DATE STATISTICS EFFECTIVE FROM  APRIL 2023

 

  • The National Minimum Wage for 21 to 24-year-olds – up to £9.50 per hour & £10.42 after April 1st
  • For 21-22 year olds – £9.18 per hour &  £10.18 in 2023
  • For 18 to 20-year-olds – up to £6.83 per hour & £7.49 in 2023
  • For under-18s – up to £4.81 per hour & £5.28 in 2023
  • For apprentices – up to £4.81 per hour & £5.28 in 2023

 

There are other rates out there such as the London Living Wage but those shown above are the legal minimums.

 

Employment tribunal compensation

 

Compensation limits are increased annually, and usually in line with the retail price index. From
2021 to 2022, the following compensation caps will increase:

 

  • The cap on unfair dismissal compensation will increase to £93,878
  • The statutory redundancy payment will increase to £17,130
  • Statutory redundancy cap £571/week

 

Pay for time off work

 

Maternity Paternity Adoption and Shared Parental Leave

 

Statutory Maternity and Adoption Leave
1 st  6 Weeks 90% of average wage next 33 weeks £172.48/week subject to qualifying levels

 

Statutory Paternity Pay
2 weeks at £172.48/week unless weekly wage is lower

 

Shared Parental Leave
33 weeks £172.48/week unless weekly wage is lower

 

Statutory Parental Bereavement Pay
33 weeks £172.48/week for 2 weeks unless weekly wage is lower

 

Statutory Sick Pay

£109.40/week

Redundancy

 

How to calculate redundancy pay?

 

Maximum Weekly Pay£643/week and maximum statutory redundancy payout to £19290

  1.5 Weeks Pay Each year of employment in which employee is aged 41 and above
  1 Weeks Pay Each year of employment in which employee is aged 22-40
  0.5 Weeks Pay Each year of employment in which employee is aged 21 and under
  Statutory redundancy cap £643/week
  Maximum redundancy £19290
  Maximum number of years Last 20 worked

 

 

 

Whilst the increases are minimal, and are expected each year, they serve as a reminder for employers that the consequences of “getting it wrong” when dealing with dismissals can be significant.