From 20th March 2017, the Odgen rate of discount has been reduced from 2.5% to -0.75%. The discount rate reflects Read More
The Living Wage Foundation has today accredited Naturesave as a Living Wage employer.
This commitment to the Living Wage will see everyone working at Naturesave, regardless of whether they are direct employees or third-party contracted staff; receive a minimum hourly wage of £8.45. Both of these rates are significantly higher than the statutory minimum for over 25s of £7.50 per hour introduced in April 2017. The figure is an hourly rate set independently, updated annually and is calculated according to the real costs of living. Employers choose to pay the real Living Wage on a voluntary basis. This movement enjoys cross-party political support.
As the UK’s leading ethical insurance provider, we believe it is important that Naturesave acts as a responsible employer and are delighted to receive the Living Wage accreditation.
Katherine Chapman, Director, Living Wage Foundation said: “We welcome Naturesave 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.”
“We are a movement of over 3000 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 Naturesave join us, because they too believe that a hard day’s work deserves a fair day’s pay.”
About the Living Wage Foundation – The Living Wage is an hourly rate set independently and updated annually and is calculated according to the basic cost of living in the UK. Employers choose to pay this wage on a voluntary basis. The UK rate for outside of London is currently £8.45 per hour. The London rate 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.