The National Living Wage and National Minimum Wage Rates for 2022
Alan Kitto
The Government has announced that the National Living Wage and the National Minimum Wage rates will increase from the beginning of April 2022:
The National Living Wage will increase from £8.91 per hour to £9.50 (6.6% increase)
The National Minimum Wage for those aged 21-22 will increase from £8.36 per hour to £9.18 per hour (9.8% increase)
The National Minimum Wage for those aged 18-20 will increase from £6.56 per hour to £6.83 per hour (4.1% increase)
The National Minimum Wage for those aged 16-17 will increase from £4.62 per hour to £4.81 per hour (4.1% increase)
Based on a 40 hour working week, this will increase the salary of someone 23 or above to £19,836 per annum if they are paid weekly.
However, because the Living/Minimum Wage legislation requires employees to be paid these new rates for each hour worked in each pay period, monthly paid employees will need to be paid £20,976 per annum to ensure they receive the correct amount in months where there are 22 or 23 working days.
For more information on these changes, give us a call.