National Living Wage and National Minimum Wage 2023

Starting in April of 2023, there will be an increase in the rates for the national living wage and national minimum wage.

What are the national living wage and minimum wage?

The national living wage is a legal requirement set by the government which mandates that employers must pay their workers a minimum hourly rate. The national living wage is often updated by the government to reflect changes in the cost of living and inflation, and it applies to workers over the age of 23. It is worth noting that this wage is different from the national minimum wage, which is a separate legal requirement that applies to workers under the age of 23.

What are the new national living wage and minimum wage rates?

What were the national living wage and minimum wage rates?

Real living wage

The Real Living Wage, calculated by the Resolution Foundation for the Living Wage Foundation, has experienced its biggest increase to date, surpassing the rise in the National Living Wage. The Real Living Wage now stands at £10.90 per hour nationally and £11.95 in London, reflecting a 10.1% increase nationally and 8.1% in London to accommodate the rising cost of living. This wage increase will benefit up to 390,000 Living Wage employees across 11,000 participating employers. Unlike the National Living Wage, the Real Living Wage is based on a core “basket of goods and services” deemed necessary for everyday needs and is not age-dependent. Participating employers are required to implement the voluntary Real Living Wage rates as soon as possible, with a deadline of May 14, 2023. Keep an eye on this page for any changes.

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