The National Minimum Wage – Are You Compliant?Posted in : Reddy Made Contracts on 13 February 2023
The National Minimum Wage (‘NMW’) in Ireland increased as of 1 January 2023. This is seen as an initial step towards a national living wage being achieved for employees. A living wage is a ‘wage which makes possible a minimum acceptable standard of living’ according to the Living Wage Technical Group in Ireland. The most recent wage increase will be followed by other gradual increases in the NMW until it reaches 60% of hourly median earnings. It is anticipated that from 2026 there will no longer be a NMW but instead only the national living wage which will be the minimum for all employees – or in other words the living wage will actually be the NMW.
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This article is correct at 13/02/2023
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