National Living Wage Set to Rise on 1st April 2023
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 £10.42 per hour
Age 21-22 £10.18 per hour
Age18-20 £7.49 per hour
Age16-17 £5.28 per hour
Apprentice rate £5.28 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 April 2023
Other important rises include:
Statutory maternity, paternity, adoption, parental bereavement, and shared parental payments will rise to £172.48 per week.
Statutory sick pay, which will rise to £109.40 per week from 6th April;
If this is written into your policies then don’t forget to amend them ready for April.