Published: 06/12/2023 By Hannah Duncan
Last month the Government announced a record breaking increase to the National Living Wage (NLW) and the Government Minimum Wage rates which will apply from April 2024.Here is a reminder of the new rates:
The rates which have increased by more than a £1 for all age groups is a welcome rise for many. Not only that, the current age for the National Living Wage is 23, however from April this will be expanded to anyone over the age of 21.
The National Living Wage and Minimum Wage is not to be confused with the real Living Wage, this is calculated by the Living Wage foundation and is a voluntary scheme employers can sign up to.
We have been real Living Wage employers since February 2022 and offer the higher London Living Wage rate to all our employees. The real Living Wage is calculated on actual living costs, based on what people need to get by; it has also recently been increased. The new real Living wage is now £12.00 an hour (£13.15 for London employees).
Read our latest blog on Real Living Wage updated for further information on the scheme.