It’s the time of the year when the National Minimum Wage rate increases
With effect from 1 October 2016 the National Minimum Wage will increase as follows :
- 21-24 year olds – the rate will increase by 25p to £6.95 per hour
- 18-20 year olds – the rate will increase by 25p to £5.55 per hour
- 16-17 year olds – the rate will increase by 13p to £4 per hour
- The apprentice rate will increase by 10p to £3.40 per hour
The National Living Wage rate which applies to everyone of 25 and over remains at its current level of £7.20 and will be reviewed in April 2017.
There has been a press release issued which announced that the reviews of both the National Living Wage and the National Minimum wage will be aligned to be effective in April each year with effect from 1 April 2017.
With these constant changes to pay rates as well as many other legislative changes, why not consider outsourcing your payroll to the experts at Pay-Nex.
Whatever the size of your company, Pay-Nex can save you time and money by removing the burdens associated with the running of your payroll and workplace pension scheme.
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