Everything You Need To Know About Statutory Sick Pay 2024

As we enter a new year, it is important to be aware of any changes that may affect our finances, including statutory sick pay Statutory Sick Pay (SSP) is a form of financial support provided to employees who are unable to work due to illness or injury In 2024, there have been some updates to the SSP regulations that both employers and employees should be aware of.

One of the key changes to statutory sick pay in 2024 is the rate at which it is paid As of April 2024, the standard rate of SSP will be £99.35 per week This is an increase from the previous rate of £96.35 per week in 2023 The weekly rate of SSP is usually paid by employers for up to 28 weeks to employees who are off work due to illness or injury.

In addition to the increase in the standard rate of SSP, there have been changes to the eligibility criteria for SSP To be eligible for SSP in 2024, employees must earn at least £129 per week This is an increase from the previous threshold of £120 per week in 2023 Employees must also provide their employer with a doctor’s note (fit note) if they are off work for more than seven days.

It is important for both employers and employees to be aware of these changes to SSP in 2024 to ensure that employees receive the financial support they are entitled to when they are unable to work due to illness or injury.

Employers should also be aware of their responsibilities when it comes to paying SSP to employees Employers are required to pay SSP to eligible employees from the fourth day of absence due to illness or injury statutory sick pay 2024. Employers are also required to keep records of SSP payments made to employees as these may be requested by HM Revenue & Customs (HMRC) for audit purposes.

Employees who are eligible for SSP can also receive other forms of financial support in addition to SSP For example, employees may be entitled to statutory maternity pay, statutory paternity pay, or statutory shared parental pay if they meet the eligibility criteria for these benefits Employees should check with their employer or HMRC to see if they are entitled to any additional financial support.

Another important aspect of SSP that both employers and employees should be aware of is the length of time an employee can receive SSP Employees can receive SSP for up to 28 weeks, after which they may be eligible to receive other benefits such as Employment and Support Allowance (ESA) Employees should speak to their employer or check with HMRC to find out what benefits they may be entitled to after their SSP period ends.

In some cases, employees may be entitled to receive SSP from more than one employer if they have more than one job However, if an employee is receiving SSP from more than one employer, the combined amount of SSP cannot exceed the weekly rate of £99.35 Employees should inform their employers if they are in this situation to avoid any overpayments of SSP.

Overall, statutory sick pay is an important form of financial support for employees who are unable to work due to illness or injury The changes to SSP in 2024, including the increase in the standard rate of SSP and changes to the eligibility criteria, are designed to ensure that employees receive the financial support they need when they are off work due to ill health.

In conclusion, both employers and employees should be aware of the changes to statutory sick pay in 2024 to ensure that employees receive the financial support they are entitled to By understanding the eligibility criteria, rate of SSP, and length of time an employee can receive SSP, employers and employees can navigate the SSP system successfully and ensure that employees are supported during periods of ill health.