NLW definition
Examples of NLW in a sentence
For example, where your weekly rate is £1,000, the percentage increase in CPIH is 2% and the percentage increase in NLW is 4%, the weekly rate would increase by 3% to £1,030 a week.
This cost will be reviewed in April of each year and will be increased by the percentage increase in the National Living Wage (NLW) rate compared to the previous year.
In the absence of any annual increase in the NMW, NLW and/or, the LLW, the Price may otherwise be increased by the Company by the amount of inflation in accordance with the retail index price as published by the National Office of Statistics from time to time and the Company shall notify the Client in writing and in advance of any such increase.
However, this will only be made available to families where both Parent/Guardian(s) are working (or the sole Parent/Guardian is working in a lone Parent/Guardian family) and each Parent/Guardian earns, on average, a weekly minimum equivalent to 16 hours at National Minimum wage (NMW) or National Living wage (NLW), and less than £100,000 per year.
If your pay would fall below the NLW, you will be excluded from Penwise automatically.
The government's National Living Wage (NLW) is the minimum pay per hour most workers aged 25 and over are entitled to by law.
Yes, provided that your salary sacrifices do not take you below the National Living Wage (NLW).
Although the Company does not pay below the NLW, there may be members impacted who participate in Penwise.
The NLW reserves the right to revise the value of any item at any time, to take into account changes in the market value of cultural artefacts.
NHSBT would expect to achieve a 1%+ saving per year over the length of the contract with no service deterioration (excluding the impact of NLW increases).