The government has accepted the recommendations of the Low Pay Commission to make above inflation increases to the national minimum wage (NMW) rates.
The following increases will come into effect from 1 October 2014:
- The adult rate will increase from £6.31 to £6.50 per hour
- The rate for 18-20 year olds will increase from £5.03 to £5.13 per hour
- The rate for 16-17 year olds will increase from £3.72 to £3.79 per hour
- The rate for apprentices will increase from £2.68 to £2.73 per hour.
The government believes that these increases will result in more than a million people’s annual wages rising by as much as £355. These increases are the first real terms increases since 2008.
You can find the full list of rates and limits here.