Statutory Pay Rates. Do you know the facts?

STATUTORY PAY (next review April 2015) Maternity/Adoption pay – SMP/SAP is paid for 39 weeks. Pay rate for first 6 weeks of SMP: 90% of the employee’s average weekly earnings.
SMP remaining weeks/SAP: £138.18 or 90% of average weekly earnings, whichever is less.
Sick pay (SSP) – £87.55 per week provided employees meet criteria.
REDUNDANCY PAY(next review April 2015)
Pay rate – 0.5 week’s pay for each year of service for employees aged under 22 (1 week’s pay is calculated at £464 or the weekly amount if it is less. 1 week’s pay for each year of service for employees between the ages of 22 and 40. 1.5 week’s pay for each year of service for employees aged 41 and older.
NATIONAL MINIMUM WAGE (next review October 2015) Hourly pay rate – £6.50 for workers aged 21 and over, £5.13 for workers aged 18 to 20, and £3.79 for workers aged 16 to 17. Apprentice minimum wage £2.73 per hour (apprentices under 19 or 19 and over who are in the first year of apprenticeship).

For help with your payroll or NMW obligations please visit The HR Dept today.