National Minimum Wage (NMW) and National Living Wage (NLW) are changing, with workers seeing the biggest increase in over a decade. Here is what you need to know and how you could be affected…
When will the rates change?
Changes to NLW and NMW will come into effect on April 1st 2018.
What is changing?
Both NLW and NMW are increasing with some workers seeing an increase of up to 33p an hour. The changes include:
- For those over 25, there will be a 33p increase from £7.50 to £7.83;
- For those aged between 21 and 24, there will be an increase of 33p from £7.05 to £7.38;
- For 18 to 20 year olds, there will be an increase a 30p rising from £5.60 to £5.90;
- For workers under 18 there will be an increase of 15p from £4.05 to £4.20;
- For Apprentices there will be an increase of 20p from £3.50 to £3.70;
Who will be affected?
Anyone who is over the age of 16 and is currently being paid National Living or National Minimum Wage will be affected. NLW concerns workers over the age of 25 and NMW impacts those over the age of 16.
For more information of the changes to National Living and National Minimum Wage and how this could impact you visit: https://www.gov.uk/national-minimum-wage-rates.