New Statutory Rates and Limits
Various statutory rates and limits relevant to employees will increase over the coming months. From 1stFebruary 2013, the limit on a weeks pay, used for calculating statutory notice and redundancy pay, will increase from £430 to £450. Guarantee payments which are applicable in some lay off situations will go from £23.50 a day to £24.20 a day. From April 2013, the weekly rate for statutory sick pay increases from £85.85 to £86.70 and the weekly rate for statutory maternity, adoption and paternity pay will go from £135.45 to £136.78.