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PPI Claim News - 26/3/2010

Minimum wage increase to alleviate risk of bank charges?

Plans for an increase in the minimum wage could help people to avoid costly bank charges.

The government has accepted proposals made by the Low Pay Commission (LPC) on new rates for the National Minimum Wage (NMW), which will see adults paid at least £5.93 an hour from October 2010, up from £5.80.

On top of the rise, the threshold for adult pay will be dropped from 22 to 21; 18 to 20 year old will receive £4.92, an increase of 1.9 per cent and 16 and 17 year olds can earn £3.64, up two per cent from current levels.

The TUC welcomed the rise, which general secretary Brendan Barber described as one that was "modest" but that was affordable for businesses.

"We are pleased to see confirmation that the age of eligibility for the adult rate of the minimum wage will fall from 22 to 21 from October this year," he said.

"This will be a significant benefit for the 40,000 21 year olds in minimum wage jobs."

Proposals made by the LPC for a minimum wage of £2.50 per hour for apprentices were also accepted by the government.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.

Samantha Clarke
Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-19692585-ADNFCR

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