The Chancellor, Philip Hammond, has announced the new increased rates of National Living Wage (NLW) and National Minimum Wage (NMW). The increases will affect around 2.4 million workers.
From April 2019, minimum pay rates will increase:
- National Living Wage for workers aged 25 years plus will rise from £7.83 to £8.21 per hour.
- National Minimum Wage rates for:
- Workers aged 21 years –24 years will rise from £7.38 to £7.70 per hour.
- Workers aged 18 years –20 years will rise from £5.90 to £6.15 per hour.
- Workers aged 16 years –18 years will rise from £4.20 to £4.35 per hour.
- Apprentice rate will rise from £3.70 to £3.90 per hour.
- The accommodation offset rate will rise to £7.55.
So, for example, a full-time worker aged 25 years plus on the National Living Wage will therefore receive an annual pay increase of £690.
If you would like more information on the increased rates of National Living Wage (NLW) and National Minimum Wage (NMW), you can visit the GOV.UK website here.