Living Wage Set to Increase to £11.44 on 1st April 2024
In a significant move towards ensuring fair compensation for workers, the UK Government has announced a substantial increase in the minimum wage, known as the National Living Wage. Effective from April 1st, 2024, the minimum wage for workers over 21 will rise to £11.44 per hour, up from the current £10.42 per hour for those over 23 and £10.18 per hour for workers aged 21-22.
This announcement marks a significant step towards addressing the issue of living standards and income inequality across the nation. With the cost of living steadily rising, the wage increase is a welcomed relief for millions of workers striving to make ends meet.
In tandem with the government’s announcement, the Living Wage Foundation has also revealed its updated rates for 2024. The Foundation’s Living Wage will rise to £12 UK-wide and £13.15 in London, surpassing the government’s minimum wage and reflecting the true cost of living in these areas.
As proud members of the Living Wage Foundation, TSS stands in solidarity with the mission to ensure all workers receive a wage that meets the basic cost of living. In alignment with the Foundation’s principles, TSS has been committed to paying the living wage to all employees, regardless of age, since becoming accredited.
TSS are proud to be accredited members of the Living Wage Foundation. Their dedication to promoting fair wages resonates deeply with our values at TSS. We are committed to ensuring that our employees receive not just a wage, but a living wage that affords them dignity and financial security.”
The increase in the National Living Wage and the Living Wage Foundation’s rates signifies a collective effort towards building a fairer and more equitable society. TSS remains steadfast in its commitment to upholding fair wages and supporting the well-being of its employees.
As the wage landscape evolves, TSS will continue to prioritise the welfare of its workforce, recognising that fair compensation is not just a matter of economics, but a fundamental human right.