All workers are entitled to minimum hourly rate of pay depending on their age
The NMW used to be amended in October of each year. However, following the introduction of the National Living Wage (for all workers age 25+) in October 2015, the review was amended to April of each year, in line with most other statutory payments.
From 1st April NMW rates will increase again with the 25+ rate moving from £7.83 to £8.21. Our article covers all of the band increases and forecast increases to statutory family and sick pay rates from, the 7th and 6th April respectively.
On 1st April 2019 the national living wage (NLW) and national minimum wage rates (NMW) will increase. The new rates are as follows:
Statutory Sick Pay increases from 7th April to £94.25 per week and from 6th April Statutory Maternity Pay, Statutory Paternity Pay Statutory Adoption Pay and Shared Parental Pay all increase to £148.68 per week.
A week’s pay for the calculation of redundancy pay has now risen to a maximum of £525, meaning that the maximum SRP payment is £15,750, based on an employee with 20 more or more years service over the age of 41. (20 X 1.5 X £525.) The cap on unfair dismissal compensation is increased to £86,444, meaning that the maximum total award exceeds £100K for the first time (our thanks to Hayley Robinson of MacFarlanes for spotting this milestone.)
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