2 days ago
New Rates of National Minimum Wage
A brief reminder of forthcoming increases to the National Minimum Wage and other employment rates
From 1 April 2019, the National Minimum Wage increases as follows:
|National Living Wage (age 25+)||£8.21||£7.83|
|Adult rate (age 21-24)||£7.70||£7.38|
|Development rate (age 18-20)||£6.15||£5.90|
|Young workers rate (age 16-17)||£4.35||£4.20|
From 6 April 2019, the cap on one week’s pay for calculating statutory redundancy payments will increase from £508 to £525.
Auto enrolment pension contributions will also increase from a minimum employer contribution of 2% and an employee contribution of 3%, to a minimum employer contribution of 3% and an employee contribution of 5%.
Finally, from 7 April 2019, the weekly rate of statutory maternity, paternity and adoption pay will increase to £148.68.