what is minimum wage uk

The National Minimum Wage in the UK is the minimum amount of pay that an employer is legally required to provide to an employee for their work. The minimum wage is divided into two key wage rates: The National Living Wage (NLW) for those aged 23 or over and the National Minimum Wage (NMW) for those under 23 (or an apprentice). The rates change on 1 April every year. As of 1 April 2023, the National Living Wage will consist of an hourly rate of £10.42, while the rate for 21-22 year olds will be £10.18, for 18-20 year olds £7.49, and for 16-17 year olds it will be £5.28. The UK Living Wage is £10.90 an hour, and the London Living Wage is £11.95 an hour for 2023/24. The government has set a target for the National Living Wage (NLW) to reach two-thirds of median hourly pay by October 2024. The NLW is projected in April 2024 to be in a range from £10.90 to £11.43, with a central estimate of £11.16.