The National Living Wage and National Minimum Wage are increasing in April 2021 – are you ready for the change?
The 1st of April 2021 will see a 2.2%% increase to the National Living Wage, lifting it from £8.71 per hour to £8.91 per hour. This increase will benefit around two million of the lowest paid workers in the UK. The National Minimum Wage is also increased.
The National Living Wage is also increasing and will be extended to cover anyone aged 23 and over, this was previously 25 and over.
Changes By Age
Increases in NLW and NMW are welcome news for low paid workers but there are cost implications for Employers who will need to factor in the increased labour costs to their operating costs.
There are no changes to the way Pensions are calculated, Employee or Employer contributions at present.
There are currently no changes to these rates.
What do I need to do?
Red Ark’s systems will automatically update with the new rates from the 1st April 2021, ensuring a smooth transition to the new Living Wage for all those eligible.
For more information on the changes head to https://www.gov.uk/national-minimum-wage-rates
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