Proposed new statutory pay rates announced
Proposed new rates of statutory sick pay, statutory maternity pay, statutory paternity pay and statutory adoption pay for 2008-09 have been announced by HM Revenue and Customs. Subject to Parliament’s approval, SSP increases to £74.50, while the standard SMP, SPP and SAP rate increases to £117.18
The new proposed weekly rates are as follows:
- SSP – £75.40 (currently £72.55)
- SMP – the lesser of £117.18 (currently (£112.75) or 90% of the employee’s average weekly earnings.
- SPP – the lesser of £117.18 (currently (£112.75) or 90% of the employee’s average weekly earnings.
- SAP – the lesser of £117.18 (currently (£112.75) or 90% of the employee’s average weekly earnings.
The new rates are subject to parliamentary approval and are scheduled to apply from 6 April 2008.
In all instances, the earnings threshold to be eligible for the statutory payments, i.e. for employees with earnings of at least the lower weekly earnings limit for NI liability, will rise from £87 per week to £90 per week.
All of the new proposed benefit rates for 2008/09 can be viewed at: http://www.dwp.gov.uk/mediacentre/pressreleases/2007/dec/benefit-rates-2008.pdf
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