Here are the key facts and figures. For additional rates please see the CIPD Statutory Rates page.
|Type of Payment||Rates 2022/23 (£)||Rates 2023/24 from 1 April 2023|
|Limit on a week’s pay||£538||£525|
|Statutory Maternity Pay||£156.66||£172.48|
|Statutory Paternity Pay||£156.66||£172.48|
|Statutory Adoption Pay||£156.66||£172.48|
|Statutory Shared Parental Leave Pay||£156.66||£172.48|
|Statutory Sick Pay||£99.35||£109.40|
|Maximum Compensatory Award||£93,878||£93,878|
|Maximum basic award for unfair dismissal and statutory redundancy payment||£17,130 (30 weeks’ pay subject to the limit on a week’s pay)||£17,130 (30 weeks’ pay subject to the limit on a week’s pay)|
|Living Wage (Living Wage Foundation)*|
|National Living Wage||£9.50|
|Workers aged 23+||£9.50||£10.42|
|National Minimum Wage||£9.50|
|Workers aged 21+||£9.18||£10.18|
|Workers aged 18-20||£6.83||£7.49|
|Workers aged 16-17||£4.81||£5.28|
*National Living Wage Foundation rates are payable from November each year. Councils who have signed up formally to pay these rates have until May of the following year to implement the new rates.
**This rate is for apprentices under 19 or those in the first year of level 2 or 3 apprenticeships. All other apprentices are entitled to the National Minimum Wage for their age.