The Living Wage Foundation has announced that the real Living Wage has increased by 10.1% in the UK as a whole and by 8.1% in London. This is the largest increase in it’s history and raises the UK wide rate to £10.90 per hour and the London rate to £11.95 per hour. This amounts to £2,730 and £4,777 over the top national minimum wage rate respectively.
The ‘real living wage’ is a voluntary scheme aimed at boosting employee’s pay and is calculated based on a hypothetical basket of goods and services that people in the UK believe is necessary to meet everyday needs. Employers who are part of the scheme agree to pay at least this enhanced basic pay rate to all staff and have been asked to increase their pay rates as soon as possible and in any event no later than 14 May 2023. This could benefit some 390,000 real living wage workers across the country.
If you have any queries regarding the real living wage please contact our specialist Employment Team on 0345 646 0406 or fill in our online enquiry form to discuss further.