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Minimum Wage and National Living Wage changes: 2020 rates increase explained | Personal Finance | Finance

Trade News by Trade News
March 22, 2020
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Minimum Wage and National Living Wage changes: 2020 rates increase explained | Personal Finance | Finance
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National Minimum Wage and National Living Wage are due to increase next month, with this rate changing every April. The government announced the changes to the rate back in December last year, explaining that the new National Living Wage (NLW) rate, which applies to people over the age of 25, will start on April 1, 2020.

Meanwhile, younger workers who receive the National Minimum Wage (NMW) are to see their pay increase by between 4.6 percent and 6.5 percent, with the percentage being dependent on their age.

Those aged between 21 and 24 for instance, will see the rate increase by 6.5 percent from £7.70 to £8.20 per hour.

The government explained that the increased rates were recommended by the Low Pay Commission – which is an independent body that advises the government about the National Living Wage and the National Minimum Wage.

2020 National Living Wage rates increases

The National Living Wage (for over 25 year olds) will increase 6.2 percent from £8.21 to £8.72.

2020 National…



Source Google News

Tags: ExplainedfinanceincreaseLivingminimumnationalpersonalRateswage
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