MILLIONS of hard-working Brits will get a pay rise worth up to £930 a year this week thanks to an increase in the Minimum Wage.
From April 1, the National Living Wage – the rate for over 25s – will go up from £8.21 to £8.72 an hour.
The 6.2 per cent increase represents the biggest cash rise ever since the Minimum Wage came into force in 1999.
Younger workers will also get wage boosts of between 4.6 and 6.5 per cent, with the rate for 21-24 year olds going up by 6.5 per cent from £7.70 to £8.20 an hour.
First announced by former Chancellor Sajid Javid in December, the changes were then confirmed by his replacer Rishi Sunak in the Budget earlier this month.
It will be a welcome bank balance boost to around two million people who earn it.
The pay rises in full
BELOW'S how much you can expect your hourly rate to rise by.
- 25 and over: £8.21 to £8.72
- 21-24: £7.70 to £8.20
- 18-20: £6.15 to £6.45
- Under 18: £4.35 to £4.55
- Apprentice: £3.90 to £4.15
The National Minimum Wage was re-branded to the National Living Wage in 2016 for those over 25, but it's still called the Minimum Wage for younger workers.
The National Living Wage and the Minimum Wage are both set by the government and all employers must pay it.
Anyone who thinks they aren't getting the National Living Wage or Minimum Wage should complain to their employer in the first instance.
If this does not get anywhere, the next step is to take the complaint to HMRC who will investigate.
Which workers do not qualify for the National Minimum Wage?
Those who are self-employed, voluntary workers, company directors and family members who live in the home of the employer and do household chores do not qualify for either rate.
There is no difference in pay for those that live in London compared to elsewhere.
The only discrepancy is for people working in agriculture or horticulture.
Workers already employed before October 1, 2013 are entitled to the pay set under their contract of employment.
In this month's Budget, Mr Sunak also announced the National Living Wage will increase to £10.50 an hour by 2024.
Both are separate from the Real Living Wage, which is calculated on the cost of living and employers can choose whether to pay this or not.
Over the weekend, experts said the Minimum Wage boost should be delayed to stop firms going under.
Source: Read Full Article