Home Business NewsBusiness Voluntary living wage set to hit £8.45 per hour

Voluntary living wage set to hit £8.45 per hour

by LLB Reporter
1st Nov 16 9:43 am

Could you be seeing a boost in pay?

The current Voluntary Living Wage has risen by 20p to £8.45 per hour.

Good news for anyone living in London, it has gone up by 35p to £9.75 per hour.

These changes by the Living Wage Foundation will affect 3,000 accredited living wage employers. This rate will apply to those who are 18 or over.

This wage should not be confused with and will not affect the government’s National Living Wage which applies across all of the UK workforce which is currently £7.20 for anyone aged 25 and over, £6.95 for 21-24-year-olds, and £5.55 to 18-20-year-olds.

The voluntary living wage has increased by 2.4 per cent in the UK and a huge 3.7 per cent rise is seen in the busy capital.

A few employers who signed up to the scheme are IKEA, Majestic Wine, National Express Bus and EDF Energy.

Some others have also been accredited this includes Everton Football Club, the British Library, MoreThan owner RSA Insurance, Curzon Cinemas and law firm DLA Piper International.

The new wage comes after more than five million people are being paid less than the Living Wage.

Katherine Chapman, director of the Living Wage Foundation, told Sky News: “It’s more important than ever for leading employers to join the growing movement of businesses and organisations that are going further than the government minimum and making sure their employees earn enough to cover the cost of living.”

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