National Minimum Wage 1st October 2015
A new national minimum Wage (NMW) comes into force for employees from 1st October 2015.
The main adult rate (21 and over) will increase from £6.50 per hour to £6.70 per hour.
18-20 year olds will increase from £5.13 to £5.30/hr.
16-17 year olds will increase from £3.79 to £3.87/hr.
The apprentice rate has the biggest rise going from to £2.73 to £3.30/hr.
The new Living Wage doesn’t come into effect until April 2016 for workers aged over 25 and will see a rise to the minimum pay rate to £7.20 per hr.
Employees of Umbrella Companies are normally paid a basic wage based on the National Minimum Wage and then a bonus or commission calculated on the excess they generate less expenses they have been paid.
A rise in the national minimum rate can therefore affect the minimum contract rates offered by recruitment agencies for work they are looking to place.
For further information Umbrella can be contacted on 0800 121 6513 or by email to email@example.com