2024 – SHARP INCREASE IN MINIMUM WAGE RATES

On 1 April 2024  the National Minimum Wage (NMW) and National Living Wage (NLW) rates will  be increased by the largest amount since their introduction as follows :-

• NLW payable to all employees aged 21+ will increase from £10.42 to £11.44 per hour
• Youth development rate, payable to employees aged 18-20, will increase from £7.49 to £8.60 per hour
• Young worker’s rate, payable to employees aged 16-17 will increase from £5.28 to £6.40 per hour
• Apprentice rate will increase from £5.28 to £6.40 per hour

The NLW will also be extend to all employees aged 21+ (currently applicable to those aged 23+) from 1 April 2024.

Employers are not obliged to inform employees about the above changes  but it may be sensible to let them know.

However, an employee should be notified when the applicable rate changes due to their birthday.

If you are an employer or employee and you need help with employment issues contact us now on 01606 74301 or email gmr@mosshaselhurst.co.uk or kerry.greatorex@mosshaselhurst.co.uk