New statutory payment rates announced for 2014
The Department for Work and Pensions has announced the proposed new statutory rates for tax year 2014/15. The revised rates are as follows:
- SMP, SPP and SAP will increase from £136.78 to £138.18
- Maternity Allowance will increase from £136.78 to £138.18.
- SSP will increase from £86.70 to £87.55 from 6 April 2014.
- The lower earnings limit applying to National Insurance contributions, below which employees are not entitled to SSP, SMP, SPP and SAP, will increase from £109 to £111