New National Minimum Wage Announced - Taking Effect as of April 1st 2022
Posted on 27th October 2021 at 11:42
The Government has annoucned that as of April 1st 2022, the National Minimum Wage will be increasing. Workers on the minimum wage are set to get a pay boost from April, with the rate for those aged over 23 rising to £9.50 an hour from £8.91.
The rise means a full-time worker will get £1,074 extra a year before tax.
The government has faced pressure to help low-paid, younger workers, who are among the worst hit by the pandemic.
The 6.6% increase in the minimum pay rate for those aged over 23 - known as the National Living Wage - is more than twice the current 3.1% rise in the cost of living.
Summary - What are all the details?
Minimim Wage increase as of April 1st 2022:
National Living Wage for over-23s: From £8.91 to £9.50 an hour
National Minimum Wage for those aged 21-22: From £8.36 to £9.18
National Minimum Wage for 18 to 20-year-olds: From £6.56 to £6.83
National Minimum Wage for under-18s: From £4.62 to £4.81
The Apprentice Rate: From £4.30 to £4.81
Published by Callum Williams - Business Adminstrator and Marketer
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Tagged as: accountants for small businesses, Accountants in Farnborough, Accountants in Hampshire, apprenticeships, April 2022, Budget 2021, Business blog, Cost of living, here to help, Higher Wages, keeping you informed, Keeping you updated, National Minimum Wage, Pay Rise
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