The minimum wage for those aged-24 and under will rise from October, the Government has announced today.
The Government says 21- to 24-year-olds in particular will receive a pay rise of up to £450 a year - the largest increase in the National Minimum Wage for eight years.
Here’s what’s happening:
- 21- to 24-year-olds will see the minimum wage rise by 3.7% from £6.70 to £6.95 an hour.
- 18- to 20-year-olds will see the minimum wage rise by 4.7% from £5.30 to £5.55 an hour.
- 16- to 17-year-olds will see the minimum wage rise by 3.4% from £3.87 to £4.00 an hour.
- Apprentices (aged 16 to 18 and those aged 19 or over in their first year) will see the minimum wage rise by 3% from £3.30 to £3.40 an hour. All other apprentices are entitled to the minimum wage for their age.
From April 2016, as already planned, a national living wage of £7.20 an hour will be introduced for workers aged 25 and older.
If you want to make a little money on the side, make sure to read 'Make money from your sofa'.