As of Saturday (April 1), millions of workers in the UK will receive a pay rise as the National Minimum Wage and National Living Wage are both increased.
The uplift in wages will benefit around two million people. For full-time employees, this could mean up to an extra £1,820 a year.
Workers in sectors such as retail, hospitality and cleaning and maintenance will particularly benefit from the rise. Apprentices will also get a 9.7% increase to their minimum hourly pay, with 21-22 year-olds seeing an immediate 10.9% rise.
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The National Living Wage, the minimum wage for over 23-year-olds, will now move up to £10.42 an hour. In 2021, the age threshold for the rate moved from age 25 to 23, meaning that more young workers are now eligible for a higher wage.
National Minimum Wage and National Living Wage rates are both statutory minimums, and businesses are encouraged to pay workers above these whenever they can afford to do so. Recent studies show significant benefits for employers who pay their staff higher wages, which includes higher job retention and staff productivity.
New National Minimum and Living Wage rates from April 1, 2023
National Living Wage - £10.42 (up 9.7% from £9.50)
21-22 year old rate - £10.18 (up 10.9% from £9.18)
18-20 year old rate - £7.49 (up 9.7% from £6.83)
16-17 year old rate - £5.28 (up 9.7% from £4.81)
Apprentice rate - £5.28 (up 9.7% from £4.81)
Accommodation offset - £9.10 (up 4.6% from £8.70)
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