National Living Wage 2016
Last year the Government announced the introduction of the National Living Wage, which will be compulsory and come into effect from 6 April 2016. This is a new wage threshold for employees over the age of 25 years.
From April 2016, the National Living Wage will be £7.20 per hour for employees aged 25 or older, which is an increase of 50p per hour on the current hourly rate of £6.70 for the National Minimum Wage. The National Minimum Wage rates still apply for employees under the age of 25.
The Government is working towards raising the National Living Wage to a rate of £9.00 per hour by 2020.