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Home » News & Insights » Living Wage Increased

Living Wage Increased

Posted on 11th November 2020

The Living Wage Foundation has announced that its UK Living Wage has risen by 20p per hour from £9.30 to £9.50 per hour. Its London Living Wage has risen by 10p per hour from £10.75 to £10.85 per hour. Over 250,000 UK workers will now receive a pay rise as a result.

The Living Wage Foundation’s real Living Wage is an hourly rate which it calculates independently and updates annually each November. It is calculated according to the basic cost of living in the UK and London, based on a basket of household goods and services, and it is entirely separate from the government’s mandatory national living wage (NLW) which is currently £8.72 per hour for workers aged 25 and over. The new Living Wage rates apply to workers aged 18 and over. 

Do all employers have to pay the Living Wage?

The Living Wage is voluntary, so employers do not have to pay it. However, many employers have committed to doing so and the Living Wage Foundation offers accreditation to those employers that do pay it. The number of accredited Living Wage employers now stands at nearly 7,000 nationally. Accredited Living Wage employers should implement the rises as soon as possible and within six months, so all affected employees should receive the new rate by 9 May 2021.

MJB Avanti can streamline your payroll processes and ensure compliance with HMRC, call us to discuss your payroll requirements (08000) 388 799

Source: Informanagement

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Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice

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