National Minimum Wage and National Living Wage Update
Whilst we can’t count on the weather; being changeable and shifting from snow to sun to showers. We can count upon the upcoming increase in the National Minimum Wage and National Living Wage on 1 April 2023. For details directly from the government, click here to view them in a new tab.
National Minimum Wage Explained
The National Minimum Wage is the minimum pay per hour that almost all workers are entitled to depending upon the age group that they fall into. The National Living Wage is paid to workers over the age of 23.
Approved by the Low Pay Commission in November last year, this year’s increase to the National Living Wage has been described as the largest increase since it was introduced in 2016, providing a much-needed pay increase to workers across the UK, as they feel the pressure of the cost of living crisis. The increase will add a weekly sum of £36.80 less tax and national insurance to these workers’ take-home pay.
What do the rates look like this year? You’ll find a handy table setting out the rates below:
Rate from April 2023
Current Rate
Increase
National Living Wage
£10.42
£9.50
9.7%
National Minimum Wage for 21 – 22 Year olds
£10.18
£9.18
10.9%
National Minimum Wage for 18 – 20 year olds
£7.49
£6.83
9.7%
National Minimum Wage for 16 – 17 year-old rates
£5.28
£4.81
9.7%
Apprentice Rate
£5.28
£4.81
9.7%
If you need advice about whether you are receiving the National Minimum Wage or are a client interested in understanding the employment costs associated with temporary labour please feel free to give our team of payroll and recruitment specialists a call for a confidential chat on 0115 9400 968. If you’d like to see what other guides we have, click here to move to our blog.
