The government this week have released rates for 2023/24 for long-awaited areas of payroll administration including sickness and parental leave changes.
The document goes through all areas of support and benefits including Universal Credit as well as pension rates for the new tax year. The New State Pension, therefore, increases from £185.15 to £203.85 in line with the recent mini-budget announcement.
Importantly to payroll, the new release also confirms Statutory Sick Pay rates moving from £99.35 to £109.40 and parental payments increasing from £156.66 to £172.48 – the qualifying earnings for all remaining unchanged due to the NI threshold freeze at £123.00.
SSP increases from the 6th of April, while parental payments are from the first Sunday in April, the 2nd.
Full details and further changes are shown here:
