The Cost of the National Living WagePosted in : Quarterly Reviews on 18 December 2015
National Minimum Wage (NMW) workers aged 25 and over will, from April 2016, see an increase in their hourly earnings. The National Living Wage (NLW) will be introduced in April 2016, with a starting rate of £7.20. This will be the new legal wage floor for all workers aged 25 and over, with the current NMW becoming in effect the rate applying to 21-24 year olds. The rise from the current NMW of £6.70 to the NLW of £7.20 is a 7.5 per cent nominal increase, the largest since 2004. Thereafter, the NLW is expected to rise steadily, surpassing £9 by April 2020.
Chancellor George Osborne’s
Already a subscriber?
Click here to login and access the full article.Log in now to read the full article
Don't miss out, start your free trial today!
Are you fully aware of the benefits of Legal-Island's Employment Law Update Service? We help hundreds of people like you understand how the latest changes in employment law impact on your business.
Help understand the ramifications of each important case from NI, GB and Europe
24/7 access to all the content in the Legal Island Vault for research case law and HR issues
Ensure your organisation’s policies and procedures are fully compliant with NI law
Receive free preliminary advice on workplace issues from Maxine Orr, Partner at Worthingtons Solicitors
The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.