What is a real Living Wage?
The real Living Wage is different to the government’s national minimum wage; it’s independently calculated based on the actual cost of living. People often think that the Living Wage just applies to employees paid hourly, but it’s for salaried staff too. The current Living Wage is £12.60 per hour – or £24,570 per annum (based on a 37.5 hour week). The new rate is announced every November, and your business has until 31 April to implement the new rate.