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April 2023 Statutory Rate Increases: What You Need to Know

employment law legal compliance Sep 09, 2023

The first week of April 2023 brings welcome news for UK workers, with statutory rates increasing across three key dates.

 

Saturday 1st April - National Minimum Wage

 

The National Living Wage and minimum wage rates increased on Saturday 1st April, providing immediate relief for millions of workers amid ongoing cost-of-living pressures.

 

Sunday 2nd April - Family-Friendly Benefits

 

Statutory rates for maternity, paternity, adoption, and shared parental pay all received their annual uplift on Sunday 2nd April, supporting new parents during a financially challenging time.

 

Thursday 6th April - Other Statutory Rates

 

The final increases came into effect on Thursday 6th April, covering redundancy pay, statutory sick pay, and guarantee pay - important safety nets for workers facing uncertainty.

 

What This Means

 

These increases provide real financial support for workers, new parents, and those facing redundancy or illness. Employers should ensure they're implementing these changes correctly, while workers should check their pay slips to confirm the increases have been applied.

 

While modest, these rate increases represent an important step in supporting working families across the UK during challenging economic times.

 

HARDWIRE HR

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