Half a million Brits to get £1,170 pay rise this year

Between the cost of living crisis, rising energy bills and looming Christmas outgoings - it's clear we're all in need of some extra dosh at the moment.

Well, it seems like exactly that will be happening for nearly half a million workers in the UK who are set to get a pretty decent £1,170 pay rise this year.

This is because the Real Living Wage - described as 'the only wage rate based on what people need to live' - will be increasing by 60p from £12 to £12.60 an hour across the UK and by 70p from £13.15 to £13.85 in London.

The Real Living Wage is seeing an increase this year (agrobacter / Getty Images)

Unlike the National Living Wage, which is a statutory government minimum for 21 year olds and over set at £11.44 an hour, the Real Living Wage is voluntary and covers anyone aged 18 or over.

The calculation is made according to the cost of living, based on 'a basket of household goods and services'.

This increase, which was announced today (23 October), means that a full-time worker earning the new Real Living Wage will now earn £1,170 more each year, £1,365 if they're based in London.

This works out at £2,262 a year more than a worker earning the current government minimum, £4,700 more in London.

The Real Living Wage is voluntarily paid by over 15,000 UK businesses who 'believe their staff deserve a wage which meets everyday needs' which include things like the weekly shop, or an unexpected trip to the dentist.

Over 460,000 employees have received a pay rise as a result of the Living Wage campaign with employers supporting it including the likes of Nationwide, Google, LUSH, Everton FC and Chelsea FC.

LUSH is one of the 15,000 UK business who support the Real Living Wage (Peter Dazeley / Contributor / Getty Images)

Katherine Chapman, director of the Living Wage Foundation, said: "Low-paid workers have been hardest hit by the cost-of-living crisis and are still struggling to stay afloat amidst persistently high prices.

"The Real Living Wage remains the only UK wage rate calculated based on actual living costs, and the new rates announced today will make a massive difference to almost half a million workers who will see their pay increase.

"It’s a challenging time for businesses too, which is why it is so encouraging to see the living wage movement continue to grow at pace.

"This year we reached the major milestone of 15,000 accredited employers, with half of them signing up since 2021. Employers who want to go beyond the Government’s minimum wage and ensure their workers are paid in line with the real cost of living can look to these leading employers and accredit with the Living Wage Foundation."

Find out more about the Living Wage Foundation here.

If you've been affected by any of the issues in this story, you can find more information about where to get help from Turn2Us via their website.