Minimum wage for 23 year-olds to rise to £9.50 an hour
Workers on the minimum wage will get a pay increase from April next year when the rate for those aged over 23 will rise to £9.50 an hour (from £8.91). For a full-time worker, this equates to an extra £1,074 per annum before tax.
The increase will be formally announced in this week's Budget and follows the recommendation of the Low Pay Commission.
Minimum pay rates for younger workers are also due to increase. From 1 April 2022 the increases to the minimum wage will be:
- National Living Wage for over-23s: from £8.91 to £9.50 an hour
- National Minimum Wage for those aged 21-22: from £8.36 to £9.18 per hour
- National Minimum Wage for 18 to 20-year-olds: from £6.56 to £6.83 per hour
- National Minimum Wage for under-18s: from £4.62 to £4.81 per hour
- The Apprentice Rate: from £4.30 to £4.81 per hour
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