Here are the new financial rates and limits for 2017.
A maximum week’s pay is £489 for calculating various awards such as the basic award for unfair dismissal; statutory redundancy pay; failure to consider a request for flexible working and state payments on insolvency of an employer for unpaid holiday pay and statutory notice.
The maximum compensatory award for unfair dismissal is the lesser of £80,541 or 52 weeks’ pay.
The National Minimum Wage:
- Workers aged 21 or more – £7.05 per hour.
- Workers aged 18 – 20 – £5.60 per hour.
- Workers aged 16-17 – £4.05 per hour.
- Apprentices under the age of 19 or any age from the first 12 months of apprenticeship currently £3.40 rising to £3.50 from 1 October 2017.
National Living Wage: £7.50 per hour
Statutory sick pay: – £89.35 per week
Statutory maternity, paternity, parental leave, adoption and shared parental leave pay: £140.98 per week (or 90 per cent of the person’s average weekly earnings, depending on timing of absence).