News and Employment Updates.
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Along with the NMW and NLW increasing today, other statutory payments are set to rise this month.
SSP will rise to £94.25 per week and SMP, paternity, adoption and shared parental payment will be £148.68 per week.
The limit on the daily amount of statutory guarantee pay will increase from £28 to £29.
The limit on the amount of the unfair dismissal compensatory award will rise from £83,682 to £86,444.
The minimum basic award for certain unfair dismissals will go up from £6,203 to £6,408.
The main change is that the amount of a “week’s pay” for calculating statutory redundancy pay and certain unfair dismissal awards is to increase from £508 to £525 from 6 April 2019.
Click here for more information.
The Auto Enrolment contributions are to increase this month on the 6th with employers contribution raising to a minimum contribution of 3% of qualified earnings. Auto enrolment was introduced by the government in order to improve pension saving in the UK. By encouraging people to think about and contribute towards a pension, this will help to ensure that individuals have the best possible income and support when they reach their retirement
We have put together some interesting Pension facts,.for example: did you know the recommended amount for a comfortable retirement is from £260,000 - £445,000.
Click the link for some more facts.
April 2019 requires all employers to:provide payslips to all workers.
They must show hours on payslips where the pay varies by the amount of time worked. Additional information must be shown on a payslip for workers whose pay varies depending on the number of hours they have worked. Where this applies, the number of hours paid for on this basis (ie on the amount of time worked) must be shown. Any other hours do not need to be shown (although of course they can be shown if it would be helpful to do so). For example, where a worker has a fixed salary each month, and works variable overtime with additional pay at an hourly rate, only the hours of overtime need to be shown. Full details on the new rulings on the payslips can be found by clicking the here..