In April 2019 the Minimum Wage, National Living Wage and Pension contributions will increase. Below is some of the key information regarding the rise and how much minimum wage and pension contributions will increase by.
Minimum Wage and National Living Wage
You must be at least:
• school leaving age to get the National Minimum Wage
• aged 25 to get the National Living Wage – (the minimum wage will still apply for workers aged 24 and under)
These rates are for the National Living Wage and the National Minimum Wage. The rates change every April.
Apprentices are entitled to the minimum wage for their age if they are both:
• aged 19 or over
• have completed the first year of their apprenticeship
Workplace Pension Contributions
Below are the changes for the minimum contributions for workplace pensions by both employers and employees. All employers with staff in a pension scheme for automatic enrolment must act to make sure at least the minimum amounts are being paid into their pension scheme. This applies to you whether you set up a pension scheme for automatic enrolment or you decided to use an existing scheme.
Most employers use pension schemes that from April 2019 will require a total minimum of 8% contribution to be paid. The calculation for this type of scheme is based on a specific range of earnings. For the 2018/19 tax year this range is between £6,032 and £46,350 a year (£503 and £3,863 a month, or £116 and £892 a week). These figures are reviewed each year by the government.
For more information: