The 2017/18 statutory rates
Annual change. The government has permanently moved annual NMW rate changes from 1 October to 1 April; this has been done so they align with NLW changes. The next revisions will occur on 1 April 2018 but the 2018/19 NLW and NMW rates should be known by December 2017 at the latest.
Statutory rates. In addition, it’s been proposed that:
- statutory sick pay (SSP) will go up from £88.45 to £89.35 p.w. ; and
- statutory maternity pay (SMP), statutory paternity pay (SPP), statutory shared parental pay (ShPP) and statutory adoption pay (SAP) – which are all currently £139.58 p.w. – will rise to £140.98 p.w.
Date for your diary. Annual increases to SSP, SMP, SPP, ShPP and SAP usually occur on the first Sunday in April (which would be 2 April 2017). However, the Department for Work and Pensions has suggested that these statutory rate increases will probably take effect on 10 April 2017.
These proposed statutory rates are unlikely to change but are subject to parliamentary approval.