HUNDREDS of thousands of workers will get a pay rise as the Real Living wage increases from today.
Employees of companies including Nationwide, Oxfam and Ikea will all see their hourly rate increase to £12 an hour.
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More than 14,000 companies will pay their workers the new rate which means almost half a million people will benefit from the cash boost.
The Living Wage Foundation said its rates will increase to £12 an hour outside of London, which is a rise of £1.10.
For workers in London, it will rise from £11.95 an hour to £13.15 which is an increase of £1.20.
Not every company has to pay this wage to its employees as it is higher than the legal minimum required.
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The Real Living Wage is different from the national minimum wage and the national living wage which is set by the government.
The government’s national living wage sets the minimum hourly rate at £10.42 an hour for workers over the age of 23.
The Real Living Wage is a voluntary payment by employers following a campaign in 2001 by Citizens UK that called on employers across the country to increase pay.
Big and small companies across the charity, public and private sectors have pledged to pay the Real Living Wage to their employers.
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Here is a list of the more well-known ones:
- Nationwide
- Aviva
- KPMG
- Oxfam
- Ikea
- Lush
- Burberry
- Refuge
- Nuffield Foundation
- ITV
- Chelsea Football Club
- The Perfume Shop
- Nestle
If you want to find out more about the Real Living Wage you can visit the Living Wage Foundation website.
Here you will be able to find out which companies have signed up to the Real Living Wage and search by region, industry and sector.
You can also find out which employers near you are signed up to the Living Wage Foundation by using the interactive map.
Simply search by your postcode or the name of the business you are looking for and you will be able to find out which employers in your area have signed up to the scheme.
Living Wage Foundation director Katherine Chapman described this increase as a “lifeline” for struggling workers.
According to the foundation, more than two in five low-paid workers say they regularly use a food bank and almost as many report falling behind on household bills.
What is the difference between the National Living Wage and the National Minimum wage?
The National Living Wage and the National Minimum Wage are both different from the Real Living Wage.
They are both rates of pay that are set by the government
The National Living Wage is the legal minimum employers have to pay workers aged 23 and over and is currently £10.42.
The National Minimum Wage is the minimum amount that workers under 23 (but of school-leaving age) are entitled to.
Exactly how you get depends on how old you are.
Here are the rates for 2023/24
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- Those aged 21-22 get at least £10.18 an hour
- For 18 to 20-year-olds, the minimum wage is £7.49 an hour
- Under-18s are entitled to a minimum of £5.28 an hour
- The apprenticeship wage is also £5.28 an hour
Earlier this month Chancellor Jeremy Hunt said that The National Living Wage will rise to at least £11 per hour from next year – benefitting two million of the lowest-paid workers.
