National Living Wage set to rise from the 1st April 2020
Every year, the National Living Wage (NLW) and National Minimum Wage (NMW) are set to rise from the 1st April.
The new rates will be:
· NLW (age 25+) £8.72 per hour
· NMW (age 21-24) £8.20 per hour
· NMW (age18-20) £6.45 per hour
· NMW (age16-17) £4.55 per hour
· NMW apprentice rate £4.15 per hour
If you pay any employees the NLW or NMW, or close to it, it’s a good idea to check their current pay now to see what adjustments you need to make ready for April.
Other important rises from 5th April 2020
Other important rises include:
· Statutory sick pay, which will rise to £95.85 per week
· Statutory maternity, paternity, adoption, and shared parental payments will rise to £151.20
· Statutory parental bereavement pay will be introduced from 6th April (£151.20 per week).
If this is written in your policies then don’t forget to amend them ready for April.