The National Living Wage will be increased by the most in history for three million low-paid workers beginning in April 2024, according to HM Treasury. <\/p>\n\n\n\n
For a full-time employee, the boost will be worth more than \u00a31,800 per year. The eligibility age for the National Living Wage will also be reduced from 23 to 21 years old.<\/p>\n\n\n\n
The National Living Wage will raise by more than \u00a31 per hour beginning in April, from \u00a310.42 to \u00a311.44. So far, this nearly 10% pay raise is the largest cash increase to the National Living Wage in more than a decade.<\/p>\n\n\n\n
It translates to a 12.4% salary raise for a 21-year-old, from \u00a310.18 per hour this year to \u00a311.44 next year, or about \u00a32,300 per year for a full-time worker.<\/p>\n\n\n\n
The National Minimum Wage rate for younger workers will also rise, with 18 to 20-year-olds earning \u00a38.60 per hour – a \u00a31.11 hourly pay increase.<\/p>\n\n\n\n
21 and over: \u00a311.44 per hour
18 to 20: \u00a38.60 per hour
Apprentice: \u00a36.40 per hour<\/p>\n\n\n\n
23 and over: \u00a310.42 per hour
21 to 22: \u00a310.18 per hour
18 to 20: \u00a37.49 per hour
Under 18: \u00a35.28 per hour
Apprentice: \u00a35.28 per cent<\/p>\n\n\n\n
The National Living Wage differs from the Real Living Wage, which is a voluntary wage based on the cost of living. The Real Living Wage in 2023\/24 is \u00a312 in the UK and \u00a313.15 in London.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
The National Living Wage will be increased by the most in history for three million low-paid workers beginning in April 2024, according to HM Treasury. For a full-time employee, the … <\/p>\n