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Posted 30th September 2016

National Minimum Wage Increase

The National Minimum Wage (not to be confused with the National Living Wage) is going up.

exchequer-national-minimum-wage-article

This is great news for younger workers who will hopefully feel the benefit in their pay packets. Lower paid workers aged 25 and over should already have benefitted from the introduction of the National Living Wage back in April 2016.

For 21- 24 year old’s the hourly minimum rate of pay is increasing from £6.70 to £6.95. This means that at Exchequer we are also increasing our minimum rates for workers in this age bracket. We are making this change to ensure we can continue to pay the new NMW together with Holiday Pay, ERNI etc.

If this affects you or your workers and you have any questions please just give us a call.

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