Minimum wage to increase in October 2016
The national minimum wage is going to increase to £6.50 an hour for employees ages 21 to 24 years old. This increase is set to come into effect from October 2016.
The full changes that are due to come into effect are:
- 21- to 24-year-olds: £6.95 an hour (up from £6.70)
- 18- to 20-year-olds: £5.55 an hour (up from £5.30)
- 16- to 17-year-olds: £4.00 an hour (up from £3.87)
- apprentices: £3.40 an hour (up from £3.30)
The increase in the national minimum wage is in addition to the introduction of the national living wage of 7.20 for employees over 25 years old. The National Living Wage is set to rise to £9 by 2020.