How much is the minimum wage?

Posted: 5th December 2022
Author: Andrea Smith
Reading Time: 1 minute

From the 1 April 2023 the minimum wage, known officially as the National Living Wage, will increase, following the recommendations of the Low Pay Commission (LPC). The increase varies depending on the age of the worker.

Here is a guide of what the hourly minimum wage entitlement will be:

 

National Living Wage

Rate from April 2023

Current rate

Increase
23 years plus

£10.42

£9.50

9.7%
21 – 22 years old

£10.18

£9.18

10.9%
18 – 20 years old

£7.49

£6.83

9.7%
16 – 17 years old

£5.28

£4.81

9.7%
Apprentice rate

£9.10

£8.70

4.6%

The apprentice rate applies to people aged under 19, or people over 19 in the first year of their apprenticeship.

The minimum wage will be the same for all the UK.

The LPC has acknowledged that these increases will support the wages and living standards of low-paid workers at a time when many are feeling increased pressure from a rising cost of living. It believes that the increase to the NLW will ensure that it remains on track to reach the Government’s target of two-thirds of median earnings by 2024.

For further advice and assistance please contact our Business Services Team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk

Disclaimer: The information provided on this blog is for general informational purposes only and is accurate as of the date of publication. It should not be construed as legal advice. Laws and regulations may change, and the content may not reflect the most current legal developments. We recommend consulting with a qualified solicitor for specific legal guidance tailored to your situation.