During the Chancellor's budget speech on Wednesday 27th October 2021, we learned about the new rates for the National Minimum Wage which will be applicable from April 2022.
The National Minimum Wage / Living Wage Increases will be as follows from 1st April 2022.
£9.50 per hour for those aged 23 or over (national living wage rate)
£9.18 per hour for those aged 21 to 22
£6.83 per hour for those aged from 18 to 20
£4.81 per hour for those aged 16 or 17
£4.81 per hour for apprentices under 19 or those in their first year of the apprenticeship.
Employers with employees on fixed annual salaries must check that those salaries do not fall below the minimum wage rates when calculated against hours worked. For example, an employee aged 23 or over who is working 37.5 hours per week should be paid a minimum of £18,525.00, for a 40 hours week it would be £19,760.00.
Employers should review their payroll at least 1 month before the increases and write to the employees to advise of changes that will take effect from 1st April 2022.
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