Living Pension and Living Wage

We are a Living Pension and Living Wage Employer. This means we are committed to helping all of our workers to retire well and be paid fairly to ensure everyone can afford the essentials. 

Living Pension

Living Pension
What is the Living Pension?

The Living Pension is an independently calculated savings target. Employers sign up to the Living Pension to show their employees that they are committed to helping their employees retire well.

The Living Pension target tells you how much you need to save every month or every year so that you can cover the costs of basic everyday needs when you retire. Basic everyday needs include food, bills, clothing and the average cost of housing.

The Living Pension is based on someone saving from the age of 25 for all of their working life. If you start saving later than 25 you will need to save more.

What do Weaver Vale do?

We are accredited as a Living Pension Employer by the Living Wage Foundation. We meet the standards set by Citizens UK and the Living Wage Foundation by signing the ‘UK Living Pension Employer’ licence agreement.

We work with employers who want to ensure their employees never face pension poverty. The Living Pension accreditation provides an independently calculated benchmark for Living Wage Employers to provide workers with security and stability both in-work and retirement.

What are your commitments?

As a Living Pension Employer, we have committed to:

  • Offer a pension savings target of 12% of a full time Living Wage worker’s salary, made up of a minimum 7% employer contribution. 
  • Ensure all their third-party contracted and sub-contracted regular staff are offered a Living Pension, within 3 years of the initial accreditation.
  • Ensure all their third-party contracted and sub-contracted regular staff are offered a Living Pension, within 3 years of the initial accreditation.
    Communicate annually to all staff about the Living Pension offering.

You can find out more about Living Pensions by visiting here.

Living Wage

Living Wage
What is the Living Wage?

The Living Wage recognises employers who have made the commitment to support their staff with a real living wage. 

This provides security and dignity to thousands of workers by making sure they can afford the essentials. 

The wage has an independently calculated rate which increases each year based on what it costs to live.

It makes us part of a growing movement of thousands of employers across the UK paying their staff fairly.  

You can find out more about the Living Wage by visiting here.