National Living Wage – the price for Experience.

National Living Wage – the price for Experience.

In July 2015 the Government announced the introduction of a new National Living Wage (NLW) for workers aged 25 plus by introducing a new premium on top of the National Minimum Wage (NMW).

From April 2016, the NLW will be £7.20 and the government have set a target of £9 by 2020.

This £0.50 increase above NMW (£6.70) is compulsory for all workers aged 25 and over and will also increase liabilities for Holiday Pay, Pension contributions & Employers National Insurance.

Employers and Hirers will also be subject to legislative action should they be deemed to be discriminating against those qualifying for NLW, in order to control costs.

For more information or to discuss how your Recruitment Costs will increase please feel free to contact us.

 

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