New Rates of National Minimum Wage

New Rates of National Minimum Wage

A brief reminder of forthcoming increases to the National Minimum Wage and other employment rates

From 1 April 2024, the National Minimum Wage increases as follows:

 

Rates20232024
National Living Wage (age 21+)£10.42£11.44
Adult rate£10.18No longer applicable
Development rate (age 18-20)£7.49£8.60
Young workers rate (age 16-17)£5.28£6.40
Apprentice rate£5.28£6.40

 

The adult rate previously applied to those aged 21-22. From 1 April 2024 there will no longer be an adult rate and the National Living Wage applies to anyone age 21 and over.

From 7 April 2024, the weekly rate of statutory maternity, paternity and adoption pay will increase to £184.03.

From 6 April 2024, statutory sick pay will increase to £116.75 per week and the cap on one week’s pay for calculating statutory redundancy payments will increase to £700.

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