Compensation (and shared parental things) made (slightly) easy(ier)
For those of you who like to know such things, these are the new rates for the main statutory payments and for the new capped amounts for compensation from 6th April 2015 onwards.
The exception – one wonders why, but let’s thank the Government anyway for this extra layer of complexity – is that the SMP, SAP and ShPP rates apply from 5th April 2015 (i.e. one day earlier).
|SMP/SAP/ShPP:||up to £139.58 (from £138.18) per week.||MA:||up to £139.58 (from £138.18) per week.||SSP:||up to £88.45 (from £87.55) per week from 6 April 2015.||National Insurance:||the lower earnings limit applying to NICs, below which employees are not entitled to SSP, SMP, SPP, SAP and ShPP, will increase to £112 (from £111) per week.||Week’s Pay:||up to £475 (from £464) (maximum)||Basic Award:||up to £14,250 (from £13,920) (maximum)||Compensatory Award:||up to £78,335 (from £76,574) (maximum)|
And, for those of you who are puzzled (who isn’t?) by the Byzantine rules of Shared Parental Leave and Pay, you’ll be pleased to know that BIS has published an online calculator to help work out the entitlements to time off and pay on the birth of a child, taking account of existing maternity and paternity leave rights under the new shared parental leave scheme which will apply to babies due on or after 5 April 2015.
It’s here: https://www.gov.uk/government/news/calculate-your-leave-and-pay-when-you-have-a-child Enjoy.