NMW and redundancy pay increases

The National Minimum Wage (NMW) increased on 1 October to £5.80 per hour. According to the TUC, two in every three of the almost one million workers who will benefit are women, and the rise plays a positive role in narrowing the gender pay gap. The increase represents a rise of 1.2% on last year’s rate of £5.73. Workers aged 18-21 will see the NMW rise from £4.77 to £4.83, and 16-17-year olds will receive £3.57, up from £3.53.

The cap on statutory redundancy pay also increased on 1 October from £350 per week to £380.