R. M. Rahim & Co.

National Living Wage (NLW)

Uncategorized
10 British pounds bills lies in different order isolated on white. Local banking or money making co

National Living Wage (NLW)

From April 2016, the government will introduce a new mandatory national living wage (NLW) for workers aged 25 and above, initially set at £7.20 – a rise of 50p relative to the current National Minimum Wage (NMW) rate. That’s a £910 per annum increase in earnings for a full-time worker on the current NMW.

The adult NMW rate is currently £6.70. From 1 April 2016 the premium will come into effect on top of the NMW, taking the national living wage to £7.20. The NMW will continue to apply for those aged 21 to 24, with the premium added on top for those aged 25 and over, taking the total hourly rate to the national living wage.

If you are an employer you’ll need to check which staff members are eligible for the new rates and update your payroll in time. Those clients who run their payroll through our payroll bureau, we will be updating pay rates accordingly; however it is the final duty of the employer to check the pay rates are as per requirement every pay period.

Tag Post :
Share This :

Leave a Reply

Your email address will not be published. Required fields are marked *

Dont Hesitate To Contact Us

Contact us today to see how we can empower you as an individual or business owner.

Categories