Department for Work and Pensions announces annual rate increases for 2023/24

The Department for Work and Pensions (DWP) has announced its annual rate increases for 2023/24, which will take effect from April 2023.

The DWP has confirmed the rate for statutory maternity, paternity, adoption, shared parental and parental bereavement pay will increase by £15.82 per week, from £156.66 per week to £172.48 per week. The rate for statutory sick pay will increase by £10.05 per week, from £99.35 per week to £109.40 per week.

Further, the DWP has published the annual increase to the minimum wage and national living wage:

• 23+ – increase from £9.50 to £10.42;
• 21-22 – increase from £9.18 to £10.18;
• 18-20 – increase from £6.83 to £7.49;
• 16-17 – increase from £4.81 to £5.28; and
• apprentices – increase from £4.81 to £5.28

The accommodation offset will also increase from £8.70 per day, to £9.10 per day.

Advice

If you need assistance or advice on the contents of this article, please contact the Employment Team at Thackray Williams LLP 020 8290 0440.