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The National Living Wage – are you ready?

By: Amanda Steadman

Submitted by Firm:
Addleshaw Goddard
Firm Contacts:
Michael Leftley, Sarah Harrop
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The National Living Wage (NLW) comes into force on 1 April 2016. This will introduce a new higher rate minimum wage of £7.20 per hour for employees aged 25 and over. Recent research by the Regulatory Policy Committee has found that the direct cost to private-sector employers of raising wages will be £700 million, with a further cost of £137 million in respect of related costs such as pensions and National Insurance Contributions. To help you get to grips with the basics of the new regime we have produced a National Living Wage Q&A Factsheet.

 

Please click here to access the National Living Wage Q&A Factsheet