The 2023/2024 annual rate increases came into effect on 6 April 2023.
The annual increases to the minimum wage and national living wage per hour are as follows:
| Age 23 and above | £10.42 (up from £9.50) |
| Age 21-22 | £10.18 (up from £9.18) |
| Age 18-20 | £7.49 (up from £6.83) |
| Age 16-17 | £5.27 (up from £4.81) |
| Apprentices | £5.27 (up from £4.81) |
The rate for statutory sick pay has increased to £109.40 per week (up from £99.35). The rate for statutory maternity pay, paternity pay, adoption pay, shared parental pay and parental bereavement pay has increased to £172.48 per week (up from £156.66).
For employees who receive accommodation as a benefit, the accommodation offset will increase to £9.10 per day (up from £8.70).
The compensation limits for various employment tribunal claims have also increased. The upper basic award limit for an ordinary unfair dismissal claim is now £19,290 (up from £17,130), and the upper compensatory award limit is now £105,707 (up from £93,878) (or if lower, 52 weeks’ gross pay).
The Vento guidelines, which give ranges for injury to feelings awards in cases of discrimination have been updated as follows:
| Lower band (less serious cases) | £1,100 to £11,200 (up from £990 to £9,900) |
| Middle band (cases that do not merit an award in the upper band) | £11,200 to £33,700 (up from £9,900 to £29,600) |
| Upper band (the most serious cases) | £33,700 to £56,200 (up from £29,600 to £49,300) Awards can exceed £56,200 in the most exceptional cases. |
We recently published our annual data booklet, which sets out various key details that our employer clients may find helpful, including the above figures.
If you would like a copy, please do let us know – Employment Law
*The Vento guidelines were released after the data booklet was published, therefore these rates are not included.
