National Minimum Wage rates increase today

A reminder that National Minimum Wage (NMW) rates increase today.

The main increases are as follows:

•  a 20p (3%) increase in the adult rate (from £6.50 to £6.70 per hour)
•  a 17p (3%) increase in the rate for 18 to 20 year olds (from £5.13 to £5.30 per hour)
•  an 8p (2%) increase in the rate for 16 to 17 year olds (from £3.79 to £3.87 per hour)

The NMW rate for apprentices increase by 57p (20%) from £2.73 to £3.30 per hour.

From April 2016, the government will introduce a new mandatory National Living Wage (NLW) for workers aged 25 and above, initially set at £7.20 – a further rise of 50p relative to the new NMW rate.

The combined effect of these increases will equate to a £1,200 per annum increase in earnings for a full-time worker or the current NMW.