The Living Wage Foundation has announced that Darwin Clayton (UK) Ltd has received accreditation as a Living Wage employer. The Living Wage commitment will see everyone working at the company – which is one of the longest-established insurance brokers in the UK and a specialist in the fields of security and risk management insurance – receive a minimum hourly wage of £8.75 in the UK or £10.20 in London regardless of whether they’re direct employees or third party contracted staff. Both rates are significantly higher than the statutory minimum for over 25s of £7.50 per hour introduced in April last year.
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. For their part, employers choose to pay the real Living Wage on a voluntary basis. The Living Wage enjoys cross-party political support.
Katherine Chapman, director of the Living Wage Foundation, said: “We welcome Darwin Clayton (UK) Ltd 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 calculated on an annual basis to directly reflect the real costs of living.”
Chapman continued: “We are a movement of over 3,700 UK employers who, together, want to go further than the Government minimum to make sure that all their staff earn enough to live on. We have lots of small businesses in the ranks as well as big household names. These businesses recognise that the Living Wage accreditation is the mark of a responsible employer and they, like Darwin Clayton (UK) Ltd, join us because they too believe that a hard day’s work deserves a fair day’s pay.”
Living Wage Commission
As stated, the UK Living Wage is currently £8.75 per hour. The London Living Wage is presently set at a rate of £10.20 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. They’re based on the best available evidence on living standards in London and the UK.
The Living Wage Foundation receives guidance and advice from the Living Wage Advisory Council. The Foundation is supported by principal partners Aviva, IKEA, the Joseph Rowntree Foundation, KPMG, Linklaters, Nationwide, Nestle, the Resolution Foundation, Oxfam, Trust for London and Queen Mary University (London).
The compulsory ‘National Living Wage’ was first announced by the Government in July 2015 and then introduced in April the following year. As stated, the rate is £7.50 per hour. That 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.