Date posted: 2024-04-05
There are two significant changes to the minimum wage coming into effect on 1st April.
The minimum wage, known officially as the National Living Wage, is due to rise for all workers, including apprentices.
The minimum wage for all workers over 23 years old, currently £10.42 per hour, is due to increase by almost 10%. When the changes come into effect the new rate will be £11.44 per hour.
Up until now the minimum wage has applied to workers over the age of 23, however the government have lowered this age to ensure it now applies to all workers who are 21 and 22 years old.
These changes mean that a 23-year-old working 35 hours a week will see their annual salary increase by more than £1,800.
For a 21 or 22-year-old, who is being paid the current minimum wage of £10.18 per hour, the increase will be almost £2,300 per annum.
The separate National Minimum Wage for 18 to 20 year-olds will also increase to £8.60 an hour from £7.49, an increase of almost 15% .
Last but not least, apprentices will also benefit from an increase rise, with an hourly pay increase of over 21%, going from £5.28 to £6.40 an hour.
