? On 22 September 2022, the Living Wage Foundation announced that the real living wage has increased by 10.1% in the UK (8.1% in London).
This is the largest increase in the history of the real living wage and the announcement of the rate rise has been brought forward in recognition of the recent cost of living increase.
The new real living wage for the UK is £10.90 per hour, which amounts to £2,730 per year on top of the national living wage (NLW) which is £9.50 per hour, based on a 37.5-hour working week.
The new real living wage for London is £11.95 per hour, which amounts to £4,777.50 per year on top of the NLW.
The increased rates will lead to a pay boost for the 390,000 living wage workers who are employed by 11,000 living wage employers.
The real living wage is a voluntary rate, calculated independently by the Resolution Foundation, based on a core “basket of goods and services” that people in the UK believe is necessary to meet every day needs.
Living wage employers are asked to pay employees the increased rate as soon as they are able, but no later than 14 May 2023.
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