February 24, 2023
The National Living Wage (NLW) alongside National Minimum Wage (NMW) is set to rise again.
In the autumn statement on 17 November 2022, the Government announced increases to the National Living Wage (NLW) and National Minimum Wage (NMW), set to take effect from 1 April 2023.
The below graph displays the current 2022 minimum wage and the new rate set to be introduced in April 2023.
|
|
Rate from 1 April 2022 | Rate from 1 April 2022 | |
| National Living Wage (NLW) for workers 23 and over |
£9.50 | £10.42 | 9.7% |
| 21-22 year old rate (NMW) | £9.18 | £10.18 | 10.9% |
| 18-20 year old rate (NMW) | £6.83 | £7.49 | 9.7% |
| 16-17 year old rate (NMW) | £4.81 | £5.28 | 9.7% |
The NMW, which is split into three categories, is the minimum amount of money that employers are required to pay workers between the ages of 16 and 22 per hour. This rule applies to various types of workers, including full-time, part-time, casual, and agency workers, as well as some apprentices. However, apprentices who are below 19 years old or those who are in their first year of apprenticeship and aged 19 or older will receive a lower apprentice rate instead.
On the other hand, the NLW is the minimum hourly wage that employers are required to pay workers who are 23 years old or older. In 2024, the minimum age threshold for the NLW will be lowered from 23 to 21 years old. You can learn more about the differences between the NMW and NLW on our blog.
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