No catchy titles here - just the new National Living Wage and Workplace Pension contribution rates f
In case you weren't already aware, the minimum hourly rate for the National Living Wage is increasing from April 1st 2018. Also going up at the start of the new tax year (April 6th 2018) are the minimum contributions for Workplace Pensions.
First, here are the minimum hourly rates you should be paying all your employees from April 1st. I've broken it down by age - note that the apprentice rate only applies to those under 19 years old, or 19 or over who are in their first year of apprenticeship. If the apprentice is over 19 years old, and in their second year, they should be on the National Minimum Wage for their age instead.
Workplace Pension contributions (for Auto Enrolment) are increasing this year and next, so that they reach the full total contribution rate of 8% by April 2019. Here are the current minimum contribution rates, along with the next two years' worth of increases:
Don't worry - there'll be another blog post from me to remind you these are going up again next year!