Putting People First
CP24 CELEBRATES LIVING WAGE COMMITMENT
The Living Wage Foundation is pleased to announce that CP24, is accredited as a Living Wage employer.
Their Living Wage commitment will see everyone working at CP24, regardless of whether they are direct employees or third-party contracted staff; receive a minimum hourly wage of £9.00 in the UK or £10.55 in London. Both of these rates are significantly higher than the statutory minimum for over 25s of £7.50 per hour introduced in April 2017.
The real Living Wage is an hourly rate set independently and updated annually. The Living Wage is calculated according to the real costs of living.
CP24 applied to be part of the Living Wage Foundation to help demonstrate the strong bond of trust that it maintains with its employees and customers.
It is a point of pride to us that we are recognised for providing consistently high levels of service and standards throughout our operations and we are grateful to our customers for enabling us to pay our staff a Living Wage.
Employers choose to pay the real Living Wage on a voluntary basis. The Living Wage enjoys cross-party political support.
Katherine Chapman, Director, Living Wage Foundation said: “We welcome CP24 to the Living Wage movement as an accredited employer.
“Responsible businesses across the UK are voluntarily signing up to pay the real Living Wage now. The real Living Wage rate is annually calculated to reflect the real costs of living.” “We are a movement of over 3,500 UK employers who together want to go further than the government minimum to make sure all their staff earn enough to live on. We have lots of small businesses as well as big household names like; IKEA, Aviva, Chelsea and Everton Football Clubs and many more.
These businesses recognise that the Living Wage accreditation is the mark of a responsible employer and they, like CP24 join us, because they too believe that a hard day’s work deserves a fair day’s pay.
Explaining UK Wage Rates
About the Living Wage Foundation
The Living Wage is an hourly rate set independently and updated annually. The real Living Wage is calculated according to the basic cost of living in the UK. Employers choose to pay this wage on a voluntary basis.
The real Living Wage enjoys cross-party support. The UK Living Wage for outside of London is currently £8.45 per hour. The London Living Wage is currently £9.75 per hour. This figure covers all boroughs in Greater London. These figures are calculated annually by the Resolution Foundation and overseen by the Living Wage Commission, based on the best available evidence on living standards in London and the UK.
The Living Wage Foundation recognises and celebrates the leadership shown by Living Wage employers across the UK. There are currently over 3,500 accredited employers. We are an initiative of Citizens UK. We believe that a hard day’s work deserves a fair day’s pay. We support responsible employers to voluntarily go further than the government minimum and pay the real Living Wage, to all their staff, so they can earn enough to meet the cost of living. We receive guidance and advice from the Living Wage Advisory Council.
The Foundation is supported by our principal partners: Aviva; Burberry; GSK; IKEA; Joseph Rowntree Foundation; KPMG; Linklaters; Nationwide; Nestle; People’s Health Trust; Resolution Foundation; Oxfam; Trust for London; and Queen Mary University of London.
What about the Government’s national living wage? In July 2015 the Chancellor of the Exchequer announced that the UK Government would introduce a compulsory ‘national living wage’.
This new government rate is a new minimum wage rate for staff over 25 years old. It was introduced in April 2016 and the rate is £7.50 per hour as of April 2017. The rate is separate to the Living Wage rate calculated by the Living Wage Foundation.
The government rate is based on median earnings while the Living Wage Foundation rate is calculated according to the cost of living.
|The National Minimum Wage|
(including the ‘national living wage’)
|The legal minimum an employee can earn in an hour. Employers break the law if they fail to pay this rate||A voluntary rate that employers commit to pay in order to go above and beyond. The Living Wage Employer Mark is a sign of best practice|
|The ‘national living wage’ rate is set at £7.50 an hour||The current UK Living Wage is £8.45 an hour. The current London Living Wage is £9.75 an hour|
|This will increase each year, with the aim of reaching 60% of the median wage across the country by 2020 (this would mean around £9 an hour but the Low Pay Commission will consider what the market can bear)||This will increase in line with the cost of living with increases announced in Living Wage Week every year|
|Different rates apply depending on the age of the employee. The ‘national living wage’ is for over 25s only||The Living Wage is the same for all employees over the age of 18|
|Set by the Low Pay Commission||Set by the Living Wage Foundation|
|Based on an estimation of what the market can bear||Based on the cost of living|
|The rates are the same right across the UK||There is a separate rate for London to reflect the higher cost of living in the Capital|