National Living Wage (Nlw) Definition
The National Living Wage (NLW) is the minimum wage for workers aged 25 and over. It is currently £7.83 per hour (as of 2022). The NLW was introduced in April 2016, and is updated each year in April.
The government has said that the NLW will increase to £9.00 per hour by 2020. This means that a worker on the NLW will earn £1,560 more a year than they would have if the minimum wage had not been increased.
The National Living Wage is different from the National Minimum Wage (NMW). The NMW is the minimum wage for workers aged 21 and over. The current NMW rate is £7.50 per hour.