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Tag: national living wage 2023 uk

UK Government Has Increased National Minimum Wage 2024 NMW

UK Government Has Increased National Minimum Wage 2024 NMW

National Minimum Wage 2024

The UK government has increased the national minimum wage 2024. The recommendations on NLW and NMW rates have been fully accepted by the government and will come into effect from 1 April 2024. NLW and NMW rates will be applicable from April 2024.

Age NMW rate Annual increase (£) Annual increase (per cent)
National Living Wage (for those aged 21 and over) £11.44 £1.02 9.8%
21-22 Year Old Rate £11.44 £1.26 12.4%
18-20 Year Old Rate £8.60 £1.11 14.8%
16-17 Year Old Rate £6.40 £1.12 21.2%
Apprentice Rate £6.40 £1.12 21.2%
Accommodation Offset £9.99 £0.89 9.8%

Full source notes for all charts in this report are available in the data tables published with the report.

Government Has Increased The Daily Wages Rates 2023

Wages By Age

Accepting the Low Pay Commission’s recommendations this year, the government also lowered the age at which people qualify for the National Wage, from 23 to 21. This means employees aged 21 and 22 who are currently on the National Minimum Wage of £10.18 will receive a £1.26 or 12.6% rise to £11.44.

And younger workers will also get a bumper pay rise from April 2024, with 18 to 20 year-olds seeing their pay rise by 14.8% to £8.10, while 16 to 17 year-olds and apprentices A 21.2% increase to £6.40. The new rates take the NLW to two-thirds of an hour’s pay on average for those aged 21 and over.

UK Government Has Increased National Minimum Wage 2024 NMW

The Low Pay Commission (LPC) was asked to monitor and evaluate the National Living Wage (NLW) and recommend the rate which should apply from April 2024 in order to reach two-thirds of median earnings (of those eligible for the National Living Wage) by 2024, taking economic conditions into account. The government is committed to raising the age limit for the National Living Wage to 21 years and above by 2024.