National Minimum Wage Increase

The national minimum wage for those aged 21 and over will rise by 11p (1.8%) to £6.19 an hour on 1 October. That translates to £216.65 for a 35-hour week or £11,266 a year. It is hardly a king’s ransom, but a pay increase of 1.8% may be more than you have received over the last 12 months. Looked at another way, £217 a wekk is just over double the current single person’s basic state pension (up to £107.45 a week for 2012/13).

No wonder there are all those people working past their state pension age.