The statistics show carers wages continue to rise, and the pace has picked up again in comparison to the two previous years.
There has been an increase in the average (mean) of ASHE 6115 of 4.2%, and an increase in the median of 3.8%. This is the greatest mean increase seen since 2016 and the second mean biggest increase in the last decade.
By comparison, there has been an increase in the average (mean) for all full time employees of 3.2%, meaning that carers' wages are rising ahead of the average.
Carers' wages are, however, increasing at a lower rate than the National Living Wage, which applies to employees aged 25 years and over, which increased by 4.4% to £7.83 on 1 April 2018 and by 4.85% to £8.21 on 1 April 2019.
Carers' earnings continue to increase above the rate of inflation: the retail prices index increased by 3.1% and the consumer prices index by 2.1% in the year to April 2019.
Application to ASHE Linked PPOs
For the percentiles most frequently encountered by Insurers in periodical payment orders to which they are a party, the new figures are as follows:-
|2018 Provisional||2018 Revised||2019 Provisional||
2018 Revised to 2019 Provisional
Should you require any further information, or assistance in calculating the periodical payments on, please do not hesitate to contact Kate Mikolajewski or Jodie McAuley.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.