24 October 2023Approximately half a million employees will today (Tuesday 24 October) see a 10% increase in their pay rates as their employer – including several councils – is signed up to the Real Living Wage scheme.
Employers who sign up to the Real Living Wage scheme, of which there are 14,000 nationally, commit to pay their staff at what the figure the Living Wage Foundation concludes from research to be sufficient to cover every day costs.
The increase is from £10.90 to £12 an hour outside London. For those workers in London their pay will increase from £11.95 to £13.15 an hour.
These amounts are in excess of the National Living Wage which is set by the government – currently at the rate of £10.42 an hour for over 23 years old. A full time worker earning the Real Living Wage will receive £3,081 a year more than someone on the National Living Wage.
The government have set out that the National Living wage will increase to at least £11 an hour, but the exact figure is anticipated to be announced in late November.
Real Living Wage employers report the benefits of the scheme to be an improved reputation, improved the recruitment of employees to the business and a meant a reduction in turnover of staff.
