MILLIONS of workers are set to get a £1,000 pay rise from today after a minimum wage hike.
The National Living Wage has jumped from £8.91 to £9.50 from this morning.
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This represents a £1,000 annual salary increase for an employee working a 35-hour week.
The National Living Wage is paid to workers over 23 years old.
The amount you’ll get paid depends on your age, but all of the age brackets will get a pay rise from today.
We explain how much more you’ll get below as the National Living Wage rate rises.
Check if you’re eligible
Those aged 21 to 22 currently receive £8.36 an hour but this jumps to £9.18 from today.
Workers between the ages of 18 to 20 will see the minimum wage rise from £6.56 per hour to £6.83.
For under-18s, the minimum wage has gone from £4.62 an hour to £4.81.
Similarly, apprentices will see the minimum rate rise from £4.30 to £4.81.
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The boost was confirmed in the Spring Statement last week, and will be good news for millions of families being clobbered by soaring bills.
Millions of households will see their bills DOUBLE from today (April 1) as the price cap soars from £1,277 to £1,971.
Fridge staples have rocketed in price by up to 37.2% as households are paying much more for their food shop.
Soaring prices are also hitting drivers at the pumps as the world price of crude oil, international exchange rates and demand are nudging up rates.
Experts have raised concerns over whether the wage boost is enough to help families out under a crippling cost of living crisis.
It is being rolled out at the same time that National Insurance rates are rising 1.25 percentage points.
For someone earning just £20,000 – well below the national average salary – that translates to extra payments of £130.45 a year.
Someone earning £30,000 annually would pay £255.45 more, while on a salary of £40,000 would see payments rise by £380.45 annually.
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