{"id":25519,"date":"2023-12-12T10:17:53","date_gmt":"2023-12-12T10:17:53","guid":{"rendered":"https:\/\/smh.group\/?p=25519"},"modified":"2023-12-12T10:17:53","modified_gmt":"2023-12-12T10:17:53","slug":"national-living-and-minimum-wages-increase","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/national-living-and-minimum-wages-increase\/","title":{"rendered":"National Living and Minimum Wages increase"},"content":{"rendered":"

Minimum wage rates will see substantial increases from 1 April 2024 \u2013 welcome news for younger workers and apprentices, but not so much for those employers struggling in the current economic climate.<\/strong><\/p>\n

Eligibility for the National Living Wage is to be extended by reducing the age threshold so that 21 and 22-year-olds are included. Current and future rates of National Living\/Minimum Wage are:<\/p>\n\n\n\n\n\n\n\n\n
Current<\/strong><\/td>\nFrom 1 April 2024<\/strong><\/td>\nIncrease<\/strong><\/td>\n<\/tr>\n
Age<\/strong><\/td>\nRates<\/strong><\/td>\nAge<\/strong><\/td>\nRates<\/strong><\/td>\n%<\/strong><\/td>\n<\/tr>\n
23 and over<\/td>\n\u00a310.42<\/td>\n21 and over<\/td>\n\u00a311.44<\/td>\n9.8%<\/td>\n<\/tr>\n
21 to 22<\/td>\n\u00a310.18<\/td>\n12.4%<\/td>\n<\/tr>\n
18 to 20<\/td>\n\u00a37.49<\/td>\n18 to 20<\/td>\n\u00a38.60<\/td>\n14.8%<\/td>\n<\/tr>\n
Under 18 and apprentices<\/td>\n\u00a35.28<\/td>\nUnder 18 and apprentices<\/td>\n\u00a36.40<\/td>\n21.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Employers can only pay the apprentice rate if the apprentice is aged under 19 or, if older, is in the first year of their apprenticeship. Apprentices over 19 who have completed the first year of their apprenticeship must be paid the rate for their age.<\/p>\n

The provision of accommodation is the only benefit counting towards the National Living\/Minimum Wage, with the maximum offset from 1 April 2024 set at \u00a39.99 a day (\u00a369.93 a week).<\/p>\n

Real Living Wage<\/strong><\/h2>\n

Some 14,000 employers \u2013 covering over 460,000 employees \u2013 now pay the Real Living Wage. This is on a voluntary basis, with the Real Living Wage independently calculated based on actual living costs.<\/p>\n