Payroll increases

Posted by admin - October 2, 2014 9:43 am National Minimum Wage rises on 1 October 2014

Over 1 million workers on the National Minimum Wage will benefit this month from the increase in National Minimum Wage rates to £6.50 per hour, resulting in pay rises by as much as £355 a year.

The Low Pay Commission (LPC) has welcomed the rise, saying that it represents ‘”the first real terms cash increase since 2008, is manageable for employers and will support full employment”.

Increases have been made across the board as follows:

  • 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)

For more information on the National Minimum Wage and other payroll matters please call a member of our payroll team at your nearest MFW office.

For more information about our payroll services and how they could help you and your business please click here.