National Minimum Wage and National Living Wage rates.
Policies and laws are usually set up to protect the rights of the citizens and to ensure that people within the labour market enjoy a fair remuneration for services. In the UK, the national minimum wage and national living wage rates clearly specifies the hourly rates which largely depends on age and the years of experience.
In this post, you’d get all the necessary details surrounding the national minimum wages and national living wages. Furthermore, this post highlights the prerequisites for accessing the wage rates.
Determining factors for National minimum wage
There are some variables that would be taken into consideration to determine if you’re eligible for the National Minimum wage.
To qualify for the minimum wage, you must be within the following confines:
School leaving age
Workers between the ages of 24 years and under fall in the minimum wage category.
Current rates for the National Living Wage and the National Minimum Wage include the following:
The National Living Wage (NLW) is now forecasted to reach £8.62 in 2020, in line with its target (to reach 60% of median earnings in that year).
National Minimum Wage
- National Living Wage - £7.83
- 21-24 Year Old Rate - £7.38
- 18-20 Year Old Rate - £5.90
- 16-17 Year Old Rate - £4.20
- Apprentice Rate - £3.70
- Accomodation Offset - £7.00