National Minimum Wage rises from 1st April 2024 (with 2023 details) –
The annual increases in the national living and minimum wage are:
- For workers aged 23 and over the national living wage rate is £10.42 per hour from 1st April 2023. On 1st April 2024 this will increase to £11.44 per hour, and will also apply to everyone aged 21 and over.
- For workers aged 21 to 22 the national minimum wage rate is £10.18 per hour from 1st April 2023. From 1st April 2024 this category will be removed (see above).
- For workers aged 18 to 20 the rate is £7.49 from 1st April 2023. This will increase to £8.60 per hour from 1st April 2024.
- For workers aged 16 to 17 the rate is £5.28 from 1st April 2023. This will increase to £6.40 from 1st April 2024.
- The Apprentice rate is £5.28 from 1st April 2023. This will increase to £6.40 from 1st April 2024.
The Real Living Wage –
On 22nd September 2022 the ‘Real’ Living Wage (voluntary) rose to £10.90 outside London and £11.95 in London. The Living Wage rates for 2023-24 were announced on the 24th October 2023, and they are £12 and £13.15 in London. Employers will then have 6 months until May 1st to implement them.
Over 800 more employers have the joined the Living Wage Foundation since the start of the first COVID lockdown in March 2020. Now, nearly 9000 employers pay the Real Living Wage. You can see more details here.
The Statutory National Minimum Wage is based on a target to reach 66% of median earnings by 2024. The real Living Wage rates are higher because they are independently-calculated based on what people need to get by. The Living Wage Foundation encourage employers that can afford to do so to ensure their employees earn a wage that meets the costs of living, not just the government minimum.
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