Get ready for a cash injection, as new minimum wage rates are set to roll in from April 1, putting extra pounds in the pockets of millions of workers. Chancellor Jeremy Hunt initially announced this pay hike during his Autumn Statement last November, and the changes are now on the horizon.

The National Living Wage is taking a leap from £10.42 to £11.44, a substantial £1.02 increase. Not only that, but the age bracket for the National Living Wage is getting a makeover – now encompassing all those aged 21 and above, rather than just those over 23.

For the younger workforce, the news is equally uplifting. The National Minimum Wage for individuals aged 18 to 20 is climbing from £7.49 to £8.60, while those aged 16 to 17 and apprentices are also in for a pay bump, moving from £5.28 to £6.40.

However, the actual size of your pay increase depends on your current working hours, and don’t forget to factor in taxes and any other deductions you may face. Check out the full table of increases below to see how your earnings are set to rise.

But that’s not all – beyond the legal minimums, there’s the voluntary Real Living Wage that employers can opt for. This wage is designed to reflect the true cost of living, covering expenses like food, clothing, and household bills. The Living Wage Foundation recently updated the rate from £10.90 to £12 an hour outside of London and from £11.95 to £13.15 an hour within the capital. Over 460,000 workers employed by 14,000 companies enjoy the benefits of the Real Living Wage, which applies to everyone over 18 and sees yearly adjustments.

So, mark April 1 on your calendar, as it’s not just April Fools’ Day – it’s also the day your wallet gets a welcome boost! Don’t miss out on the new minimum wage rates:

• National Living Wage (aged 23 and over) – from £10.42 to £11.44
• National Minimum Wage for people aged 18 to 20 – from £7.49 to £8.60
• National Minimum Wage for people aged 16 to 17 – from £5.28 to £6.40
• National Minimum Wage for apprentices – from £5.28 to £6.40″