Millions to get pay rise of 9.7 percent this week

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Millions of Britons will get a pay rise this week as the National Living Wage increases from the start of April. This is the minimum wage that can be paid to workers aged 23 and over with the amount increasing from £9.50 an hour to £10.42 an hour.

The National Minimum Wage, which applies to those aged under 23, is also to increase. This is how much the minimum wage is going up by:

  • 16 to 17 year olds – £5.28 (up from £4.81)
  • 18 to 20 year olds – £7.49 (up from £6.83)
  • 21 to 22 year olds – £10.18 (up from £9.18).

The wage increase is important as Britons face rising costs from next month. Energy bills are increasing as the instalments from the £400 energy bills discount come to an end.

Many other household bills are also increasing including water bills, broadband and mobile and council tax.

Speaking in November last year, Bryan Sanderson, chairman of the Low Pay Commission Chair, said: “The rates announced today include the largest increase to the NLW since its introduction in 2016 and will provide a much-needed pay increase to millions of low-paid workers across the UK, all of whom will be feeling the effects of a sharply rising cost of living.

“For a full-time worker, today’s increase means nearly £150 more per month. The tightness of the labour market and historically high vacancy rates give us confidence that the economy will be able to absorb these increases.”

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The Apprentice Rate is also increasing, from £5.28 to £4.81, while the Accommodation Offset is going up from £8.70 to £9.10.

People on benefits, which may include some people on the National Living Wage and the National Minimum Wage, are to get a 10.1 percent pay boost in the new tax year, that starts on April 6.

This will include payment increases for Universal Credit, PIP, Attendance Allowance and Pension Credit.

The standard monthly allowance for Universal Credit is to go up to £292.11 for single claimants aged under 25 and up to £368.74 for single claimants aged over 25.

For joint claims, couples who are both under 25 will get £458.51 a month while a couple who are both over 25 will get £578.82 a month.

More Government cost of living payments are also going out over the coming financial year to support vulnerable Britons.

People on certain means-tested benefits, including Universal Credit, are to get a £900 payment in three instalments.

The first instalment of £301 will be paid in spring this year with the second instalment of £300 in autumn and the third instalment of £299 in spring 2024.

Those on disability benefits are also to receive an £150 payment while pensioners are to get a payment of between £150 and £300 on top of the Winter Fuel Payment next winter.

The state pension is also increasing 10.1 percent in the new financial year for both the basic and new state pension.

This means the full basic state pension will go up from £141.85 a week to £156.20 a week while the full new state pension will increase from £185.15 a week to £203.85 a week.

A person can check how much state pension they are on track to receive using the state pension forecast tool on the Government website.

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