Minimum Wage Increase: What You Need to Know


When will minimum wage increase and how much will you be paid from April 2024?

The Minimum Wage has recently increased, benefiting two million workers and marking the largest rise in a decade. The pay rise took effect on April 1, with the National Minimum Wage and National Living Wage both being raised to £11.44.

Who qualifies for the wage increase?

The eligibility for the National Minimum Wage starts at school-leaving age, generally above 16. To receive the National Living Wage, workers must be 21 and above. Chancellor Jeremy Hunt announced a reduction in the qualifying age from 23 in his Autumn statement.

How much did the minimum wage go up by?

For those over 21, the minimum hourly rate increased from £10.42 to £11.44, resulting in nearly three million workers on the National Living Wage receiving a nearly 10% pay boost. The new rates from April 1, 2024, are detailed below:

  • 23 years and over – £11.44
  • 18 to 20 year-olds – £8.60
  • 16 to 17 year olds – £6.40
  • Apprentices – £6.40

How much will you be paid after April 2024?

Workers on the National Living Wage will see an increase of £1,800 annually following the rate hike. The Chancellor expressed that this rise will help eradicate low pay in the country and fulfill a manifesto promise. The National Living Wage has played a significant role in reducing the number of low-paid individuals since 2010.

Join our Sun Money Chats and Tips Facebook group to engage with others and share your financial insights.

Did you miss our previous article…