The Government has announced the new rates of the National Living Wage and the National Minimum Wage which will come into force from April 2024.
Importantly, the age threshold for National Living Wage will be lowered from 23 to 21, meaning that workers aged 21 and 22 will also be entitled to the National Living Wage from April 2024.
Workers who are of school leaving age are entitled to get National Minimum Wage.
From 1 April 2024, the new rates and applicable age brackets will be:
- £11.44 per hour for those aged 21 and over (up from £10.42);
- £8.60 per hour for those aged 18 – 20 (up from £7.49); and
- £6.40 per hour for those aged 16 and 17, and apprentices (up from £5.28).
In the Low Pay Commission’s press release, it notes that this will be the largest ever increase to the minimum wage in cash terms and the first time that the National Living Wage has increased by more than £1.00. This significant increase is driven by the strength of pay growth across the economy, which is forecast to continue into next year.
The full press release is available here: https://www.gov.uk/government/news/largest-ever-cash-increase-to-the-minimum-wage
Jones Chase is a specialist employment law firm with an excellent track record of looking after those that we assist.
Do contact us should you require further information or need any assistance. We are always happy to speak to people and point them in the right direction.