The National Minimum Wage in 2024
New rates of the National Living Wage (NLW) and National Minimum Wage (NMW) come into force on 1 April 2024. These follow the recommendations set by the Low Pay Commission (LPC) this autumn.
The new NLW and NMW rates are set out below. The NLW currently applies to all workers aged 23 and over and from 1st April 2024 this will be extended to all workers over the age of 21.
| Rate from April 2023 | Increase (£) | Increase (%) | |
|---|---|---|---|
| National Living Wage (21+) | £11.44 | £1.02 | 9.8% |
| 18-20 year old rate | £8.60 | £1.11 | 14.8% |
| 16-17 year old rate | £6.40 | £1.12 | 21.2% |
| Apprentice rate | £6.40 | £1.12 | 21.2% |
| Accommodation offset | £9.99 | £0.89 | 9.8% |
The report details the LPC’s prediction that the NLW will achieve the Governments 2019 target of being equal to two-thirds of the median hourly pay for those aged 21 and over.
This also marks the largest ever increase to the minimum wage in cash terms and the first time the NMW has increased by more than £1.
