27
Feb 2015
Increase in Statutory Rates and Limits Announced
The government has recently announced increases to various entitlements which will take effect in April 2015. The relevant increases are:-
- On 5 April 2015, statutory for maternity, adoption, paternity, additional paternity and shared parental pay will increase from £138.18 to £139.58 per week;
- From 6 April 2015, the weekly rate of statutory sick pay will increase from £87.55 to £88.45;
- In respect of any dismissals taking effect on or after 6 April 2015, the limit on a weeks pay increases from £464.00 to £475.00;
- The compensatory award will increase from £76,574.00 to £78,335.00, again for any dismissals taking place on or after 6 April 2015. It should be noted however the limit on the compensatory award will be lower of this amount and an employer’s annual salary.
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