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Biggest cash increase for low paid workers since 2008

As most business know national minimum wage increases every October. 2014 is no different though through a bidrecommended by the independent Low Pay Commission (LPC) this year will see the biggest rise since 2008 for low paid employees. This decision is expected to boost the amount workers take home by as much as £355 per year. This increase will affect employees aged 21 and over.

Business Secretary Vince Cable officially stated “This will benefit over one million workers on national minimum wage and marks the start of a welcome new phase in minimum wage policy.”

From the 1st of October 2014 NMW rates will be:

  • a 19p (3%) increase in the adult rate (from £6.31 to £6.50 per hour)
  • a 10p (2%) increase in the rate for 18 to 20 year olds (from £5.03 to £5.13 per hour)
  • a 7p (2%) increase in the rate for 16 to 17 year olds (from £3.72 to £3.79 per hour)
  • a 5p (2 %) increase in the rate for apprentices (from £2.68 to £2.73 per hour) 

 

Contact Harries HR for your National Minimum wage increase letter template on 01206 865464 or info@harrieshr.co.uk


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