This October the National Minimum Wage (NMW) will increase to £6.50 per hour, following the recommendation to the Government by the Low Pay Commission (LPC). This will see more than one million people with an extra £355 per year according to the Government.
The changes will come into effect on 1st October 2014 and comprises:
• a 19p, or 3% increase, in the adult rate (from £6.31 to £6.50 per hour)
• a 10p, or 2% increase, in the rate for 18-20 year olds (from £5.03 to £5.13 per hour)
• a 7p, or 2% increase, in the rate for 16-17 year olds (from £3.72 to £3.79 per hour), and
• a 5p, or 2 % increase, in the rate for apprentices (from £2.68 to £2.73 per hour).
If you would like further information on how the NMW increase will affect you or your business, please email [email protected].
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