NATIONAL MINIMUM WAGE & NATIONAL LIVING WAGE CHANGES – EFFECTIVE 1st APRIL 2018
The National Minimum Wage and the National Living Wage changes will come into effect from 1st April 2018.
Please see the following table – which gives a comparison of the current rates and the rates effective from the beginning of April 2018:
|
Age Group |
Apr-17 |
Apr-18 |
Increase |
|
National Living Wage (25+) |
£7.50 p.h. |
£7.83 p.h. |
33p/4.4% |
|
National Minimum Wage (21-24) |
£7.05 p.h. |
£7.38 p.h. |
33p/4.7% |
|
National Minimum Wage (18-20) |
£5.60 p.h. |
£5.90 p.h. |
30p/5.4% |
|
National Minimum Wage (16-17) |
£4.05 p.h. |
£4.20 p.h. |
15p/3.7% |
|
Apprentice – National Minimum Wage |
£3.50 p.h. |
£3.70 p.h. |
20p/5.7% |
Please see the following government link for more information on these rates:
https://www.gov.uk/national-minimum-wage-rates
AUTO ENROLMENT PERCENTAGE CHANGES – EFFECTIVE 6th APRIL 2018
Additionally the Auto Enrolment employer and employee contribution rates are changing – please see the following table:
|
Date |
Employer minimum contribution |
Employee minimum contribution |
Total minimum contribution |
|
Before April 5 2018 |
1% |
1% |
2% |
|
April 6 2018 – April 5 2019 |
2% |
3% |
5% |
|
April 6 2019 onwards |
3% |
5% |
8% |
Please see the following pension regulator link for more information on these rates:
If you are a registered member (free to subscribe) of Quay Accounts website you will have access to many extra pages of useful information.
Please see the following Quay Accounts page link for lots of useful information regarding the National Minimum Wage & National Living Wage.
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