National Minimum and Living Wages and Statutory Rate increases from 1st April – find out what you are entitled to

 In Uncategorized

 

National Minimum and Living Wages and Statutory Rate increases from 1st April

The National Minimum Wage increases on 1st April 2019 as follows:

Age 16 – 18 £4.35 per hour
Age 18 – 20 £6.15 per hour
Age 21 – 24 £7.70 per hour

 

This means that the minimum hourly rate for scale 1, 2 and 3 workers aged 18 to 20 increases from £6.14 to £6.15 per hour – the other scales do not change as they are already above the National Minimum Wage. If you are paying the minimum rate to any worker aged 18 – 20, employees’ wages should be adjusted from 1st April, the new figures will be:

£6.15 per hour (from £6.14)

£246.00 for a 40 hour week (from £245.60).

The accommodation offset is increasing from £7.00 a day (£49 a week) to £7.55 (£52.85 per week).

Time away from the yard outside normal working hours

The National Living Wage increase will have an impact on the hourly rate for time away from the yard outside normal working hours. This will increase from £7.83 to £8.21 on 1st April 2019.

Statutory Rates Increase

The rates of various statutory payments rise in April 2019 as follows:

Statutory Maternity Pay, Paternity Pay, Shared Parental Pay and Adoption Pay – rises from £145.18 to £148.68 (or 90% of the employee’s average weekly earnings if this figure is less than the statutory rate), from the first Sunday in April, which is 7th April 2019.

The rate of statutory sick pay is also increasing from £92.05 to £94.25 on 6 April 2019.

To be entitled to these statutory payments, the employee’s average earnings must be equal to or more than the lower earnings limit which is increasing from £116 to £118 in April 2019.

RIABS contributions will increase from 1st April

Due to the increasing cost of claims the trustees of the Racing Industry Accident Benefit Scheme (RIABS) have decided to raise the weekly contribution per employee from £5.24 to £6.00. As you know, the contribution is shared equally between employer and employee.

Although this is a sizeable increase, it should ensure that the scheme meets its obligations without having to review contributions again for some time. RIABS is managed by the NTF for the trustees; the weekly benefit is run as a mutual fund so surpluses are retained within the scheme to pay claims in future years.

 

 

 

Font Resize