National Living Wage Update 2024

Legislation Update - National Living Wage!!! 💰💹

The current economic landscape is something we all have on our minds these days, with costs rising all the time😟. Don't forget though that this year the National Living/Minimum Wage is rising quite significantly.... ⬆️💷

From 1 April 2024 there will be:

👉 A £1.02 (or 9.8%) increase to the National Living Wage for those aged 21 and over. This rises from £10.42 to £11.44 per hour.

👉 A £1.11 (or 14.8%) increase to the National Minimum Wage for those aged 18-20. This rises from £7.49 to £8.60 per hour.

👉 A £1.12 (or 21.2%), increase to the National Minimum Wage for those aged 16-17 and apprentices. This rises from £5.28 to £6.40 per hour.

If you are paying any of your employees the current National Minimum Wage or National Living Wage, you must review and increase salaries in the April pay run.

‍

But don't worry, our heroes are on hand to help with these tasks; anything from updating contracts to advice on navigating changes like this within your business.

If you need a hand, get in touch, we'd love to hear from you.