Less than a quarter (24%) of employee respondents are aware that statutory sick pay (SSP) currently stands at less than £100 a week, according to research by Legal and General.
Its Working lives research, which surveyed 2,000 full-time employees and 200 employers, also found that 15% of employee respondents think that SSP is more than £200 a week.
At present, employees can receive statutory sick pay of £88.45 a week for up to 28 weeks.
The research also found:
- 76% of employee respondents believe SSP to be £100 a week and 15% think it stands at between £150 and £200 a week.
- Two-thirds (66%) of employee respondents believe that the £88.45 a week SSP rate is not that fair or not fair at all.
- Around a quarter (26%) of employee respondents class the current SSP rate as fair and 8% think it is very fair.
Martin Noone (pictured), managing director of Legal and General Workplace Health and Protection, said: “It cannot be overestimated how much of an effect being off work with a long-term illness or injury can have on someone’s finances, so for less than a quarter of employees to know the actual value of statutory sick pay is concerning.
“In many cases SSP will replace an employee’s salary if off work long-term so it is vital they acknowledge how this change would impact their lives should it sadly occur.
“Our Working lives research highlights the need to raise awareness among employers and employees of this issue and the role that group income protection can play in providing a solution.
“As outlined further in the Budget [on 16 March], the government’s new Help to Save scheme to support low-income employees is certainly an interesting development, and supports the belief that government and industry should work closer together to provide solutions for employee income protection.”