Posts Tagged ‘National Minimum Wages’

NATIONAL MINIMUM WAGE AND MINIMUM PENSION CONTRIBUTIONS ARE CHANGING

Thursday, March 14th, 2019

NATIONAL MINIMUM WAGE / NATIONAL LIVING WAGE

 As of 1st April 2019 the National Minimum Wage and National Living Wage is to increase.

The new rates are as follows:

Age Group  

Hourly Rate

 

25 years old and over £8.21
21-24 years old £7.70
18-20 years old £6.15
16-17 years old £4.35
Apprentice £3.90

 

(all apprentices under age 19 AND any apprentice, regardless of age, in first year of apprenticeship will be on £3.90 per hour as of 1st April 2019)

 

MINIMUM PENSION CONTRIBUTIONS

As of 6th April 2019 the minimum amount that employers and employees must pay into their automatic enrolment pension scheme is also increasing.

The new contribution rates, as shown in the table below, will apply to your employees starting from the payment period within which 6th April 2019 falls.

Date Effective Employer Minimum Contribution  

Staff Contribution

 

Total Minimum Contribution
Current Rates

 

2% 3% 5%
6th April 2019

 

3% 5% 8%