Minimum Wage Pay Rise Today

The National Living Wage is to go up today, so people who work and are over 25 years will receive a 4.9% rise in the hourly wage from £7.83 to £8.21 per hour.

21-24 years from £7.38 to £7.70 per hour and 18-20 years from £5.90 to £6.15 per hour.

Since the introduction of the National Minimum Wage 20 years ago, millions of people have benefitted.

The minimum wage had been rising faster than average pay and workers also saw wage growth beat inflation and this rise comes just in time as council tax, TV licence fees, gas and electric bills are due to rise this month.  NHS prescription charges already have risen, water bills and vehicle tax are also set to go up a little and some telephone companies may also put telephone, mobile and broadband prices up.

The National Living Wage is the legal minimum amount an employer must pay and already over 5,000 employers pay their staff over the National Minimum wage anyway.

Comment

We are one those 5,000 employers and in addition our employer pension contributions vastly exceed the minimums required under Workplace Pension rules.