Minimum wage increase – don’t get caught out
Most minimum wage rates will increase this month, the FSB advises. The national living wage (NLW), which applies to workers aged 25 or over, will n??ot increase.
Rates are as follows:?
Age               October 2015   April 2016   October 2016
25 and over   £6.70              £7.20         £7.20
21-24           £6.70         £6.70         £6.95
18-20          £5.30              £5.30         £5.55
16-17          £3.87              £3.87         £4.00
Apprentices  £3.30              £3.30         £3.40
The Government has said that from April 2017 the national living wage and minimum wage will be uprated in parallel – currently, minimum wage operates on an October cycle, national living wage operates on an April cycle.
The objective is for the national living wage to be over £9 by 2020. A decision on the next rate increase is supposed to be taken in October – in its report on the issue, the Low Pay Commission tentatively suggested that in April 2017 the NLW will be £7.64.