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Statutory payment and pension rates 2017-18 announced

Another piece of the payroll and HR puzzle for 2017-18 has been solved by the publication of the proposed rates of benefit and pension rates

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Another piece of the payroll and HR puzzle for 2017-18 has been solved by the publication of the proposed rates of benefit and pension rates. This includes the state benefits that are paid by employers such as Statutory Sick, Maternity and Adoption Pay, etc: The basic and new State Pension will be increased to £159.55 per week in line with the government’s ‘triple lock’ manifesto commitment, meaning they will be uprated in line with the highest of prices, earnings or 2.5%. The majority of working-age benefits have been frozen at 2015-16 levels for four years (as per powers in the Welfare Reform and Work Act 2016). Other elements increase by the value of the Consumer Prices Index (CPI) at September 2016, which was 1%. This means: o SSP increases to £89.35 per week (from £88.45), rounded. o SMP, SPP, SAP and ShPP increase to £140.98 per week (from £139.58), rounded. Note that the revised rate of SSP is payable from the first day of the new tax year (the 6th) while SMP, SPP etc are payable from the week that commences the first Sunday in April (the 2nd). These are only proposed, so keep your eyes peeled for the ‘uprating order’ in Great Britain and one in Northern Ireland that will confirm these and update the relevant legislation.

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