We’re celebrating our 1 year birthday since we last certified with Living Wage Foundation as London living wage employers, so thought it was the perfect time to tell you a little more about the Living Wage foundation & all the fab work they do.
The Living Wage Foundation independently calculates the Real Living Wage – it’s the only wage rate based on what people need to live well. As well as considering the big necessities like housing, getting to and from work, bills and heating, it also considers other social needs, like a birthday celebration (more cake!) or a trip to the cinema.
The Real Living Wage is £9/hour across the UK and £10.55 for London – a fair bit higher than the Statutory National Minimum Wage for under 24s (£7.38) and the National Living Wage for over 25s (£7.83).
We were surprised to learn that nearly a quarter of people in the UK (1 in 5) earn below the Statutory National Minimum Wage. For those based in London, that adds up to £6500 a year less than a counterpart earning the Real London Living Wage – quite a difference!
There are over 4,700 Living Wage accredited employers in the UK who, like us, voluntarily pay the Real Living Wage. And the number is growing!
What the teapigs team say about it:
‘Moving to London was always going to be financially daunting but being paid the London Living Wage allows me to actually enjoy what London has to offer’
‘As a young person living and working in London, costs can add up fast. Being paid the London Living Wage means that I don't have to compromise in my personal life. I can travel around the city, see friends and make the most of what the city has to offer.’
You can learn more about the Living Wage Foundation & some of the other awesome companies that are involved, please visit www.livingwage.org.uk.
