2018 Minimum Hourly Pay Rates
National Living Wage
The Chancellor has announced, that as from 1st April 2018, the new minimum wage for employees who are 25 years old and over will be £7.83. This is a 4.4% increase from the current rate of £7.50. At Peartree this is the minimum pay rate for all staff, irrespective of their age.
On the 6th April 2018, we will also see the next stage in the Auto-enrolment pensions, which will increase from a total contribution of 2% (1% Employer, 1% Employee) to 5% (2% Employer, 3% Employee).
Citizens Living Wage
The new rates for this voluntary scheme (sometimes known as The Real Living Wage) were announced on the 6th November 2017. In London the rate is now £10.20 per hour and for the rest of the UK the rate is £8.75 per hour. These rates are paid by Living Wage Employers and they are not age restricted.