The Government has announced new rates of the National Living Wage and the National Minimum Wage which will come into force from April 2024.
Importantly, the age threshold for National Living Wage will be lowered to 21 (it was 23) meaning more workers will be entitled to the higher rate .
Workers who are of school leaving age are entitled to get National Minimum Wage.
From 1 April 2024, the new rates and applicable age brackets will be:
- £11.44 per hour for those aged 21 and over (up from £10.42);
- £8.60 per hour for those aged 18 – 20 (up from £7.49); and
- £6.40 per hour for those aged 16 and 17, and apprentices (up from £5.28).
In the Low Pay Commission’s press release, it notes that this will be the largest ever increase to the minimum wage in cash terms and the first time that the National Living Wage has increased by more than £1.00.