2023 Benefits & Pay Rates
From April 2023 there will be increases to certain benefits and pay rates in line with the Consumer Prices Index (CPI) for the year to September 2022, as announced by the Department for Work and Pensions (DWP) following the Autumn Statement in November.
Parental
Statutory maternity, paternity, adoption, shared parental and parental bereavement pay will be increased by £15.82, from £156.66 to £172.48 per week.
Sick Pay
Statutory sick pay will also see an increase, rising by £10.05 from £99.35 to £109.40 per week.
Wage Rates
We will also see new rates for the National Living Wage (23+) and Minimum Wage (school leaving age) which will apply from 1st April 2023.
23+ will see an increase from £9.50 to £10.42
21-22 will see an increase from £9.18 to £10.18
18-20 will see an increase from £6.83 to £7.49
Under 18s and apprentices will see an increase from £4.81 to £5.28
You can read the full document here.
Get More Business Blogs Like This
Like Us On Facebook | Follow Us On Twitter | Follow Us On LinkedIn
