New Minimum and Living Wage rates will kick in from April.
The rates will see a 9.7% increase for most and a higher increase for those aged 21 and 22.
A full-time worker on the National Living Wage - which applies to people aged 23 and over - will get around £150 more a month from April 2023.
Younger workers qualify for the National Minimum Wage. That is rising by 9.7% for 16, 17, 18, 29 and 20-year-olds. Those aged 21 and 22 will get a 10.9% rise to push their rate closer to the National Living Wage.
Read more: A five-step plan to get debt free in 2023
New Minimum Wages and National Living Wage for April 2023
The new rates will be in place from April 2023 to the end of March 2024
The rates are per hour.
National Living Wage (23 and over)
- £10.42 (up from £9.50)
21-22 Year Old Minimum Wage
- £10.18 (up from £9.18)
18-20 Year Old Minimum Wage
- £7.49 (up from £6.83)
16-17 Year Old Minimum Wage
- £5.28 (up from £4.81)
Apprentice Minimum Wage
- £5.28 (up from £4.81)
Accommodation Offset
- £9.10 (up from £8.70)
Read next: