Over 250,000 people are set for a pay increase this month as the Living Wage Foundation announces an increase to the Living Wage rates. The new rates are:
What is the real Living Wage?
The real Living Wage is an hourly rate of pay set independently and updated annually (not the UK government’s National Living Wage). It is calculated according to the basic cost of living in the UK, and employers choose to pay the Living Wage on a voluntary basis. According to the Living Wage Foundation, since 2001 the campaign has impacted over 250,000 employees and delivered over £1.3bn extra to some of the lowest paid workers in the UK.
About the Living Wage Foundation
The Living Wage Foundation is the institution at the heart of the independent movement of businesses, organisations and people who believe that a hard day’s work should mean a fair day’s pay. We recognise and celebrate the leadership shown by the nearly 7,000 Living Wage Employers across the UK who voluntarily commit to ensure their staff earn a real Living Wage that meets the cost of living. We are an initiative of Citizens UK.
Only the real Living Wage is calculated according to the cost of living in the UK and in London. Employers choose to pay this wage on a voluntary basis. The real Living Wage applies to all workers over 18 – in recognition that young people face the same living costs as everyone else. It enjoys cross party support.
The UK Living Wage for outside of London from Monday 9th November is £9.50 per hour. The London Living Wage is £10.85 per hour. These figures are calculated annually by the Resolution Foundation and overseen by the Living Wage Commission, based on the best available evidence on living standards in the UK and in London.
To find out more about the Living Wage, visit https://www.livingwage.org.uk/
Take a look at some of the things you should know about in payroll this week!
Take a look at some of the things you should know about in payroll this week!
