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National Minimum Wage / National Living Wage Update

Employers should be aware that from 1 April 2024, workers aged 21 and over will be entitled to the National Living Wage, and that from the same date, new rates will be in force. 

It is thought that 2.7 million workers will benefit from the new rates, which businesses will need to ensure are budgeted for ahead of the increase. The National Living Wage currently only applies to those aged 23 and over, and although no doubt welcome to employees, may represent a substantially increased wage bill for employers.

The rise from £10.42 to £11.44 an hour will be the biggest cash increase in the National Living Wage in more than a decade.

The other National Minimum Wage rates will also increase from 1 April 2024.

U18 / Apprentices - rises from £5.28 to £6.40

18 - 20 - rises from £7.49 to £8.60  21 - 22 - currently £10.18, rate is abolished and will be included in the new 21+ NLW category at £11.44 (a 12.4% increase)

Posted on 12/07/2023 by Ortolan

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