The National Minimum Wage (Amendment) (No.2) Regulations 2024 will come into effect on 01 April 2024. This amendments will be the largest increase to the minimum wage.
But what does this mean for employees who currently earn minimum wage in England and Wales?
First, the increase in hourly pay will vary depending upon your age and whether you are an apprentice. Every employer must pay at least the prescribed hourly rate, regardless of the size of the company.
Prior to these 2024 changes the National Living Wage, which is a wage based on the cost of living, would only apply to those aged 23 and over. However, from 01 April 2024 those aged 21 and over will also be legally entitled to the National Living Wage.
The table below details the rates that will come into effect, alongside the percentage increase from 2023’s rates.
As the legislation comes into effect it is important for both employers and employees to familiarise themselves with the changes and take proactive steps to ensure compliance. At Edward Hands & Lewis we are committed to providing guidance and support to both employers and employees navigating the changes in employment law.
For more information or to schedule an appointment, please contact us today.
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The National Minimum Wage (Amendment) (No.2) Regulations 2024 will come into effect on 01 April 2024. This amendments will be the largest increase to the minimum wage. But what does this mean for employees who currently earn minimum wage in England and Wales?
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