Personal finance organisation Creditspring has been accredited as a living wage employer by the Living Wage Foundation.
The living wage accreditation confirms Creditspring’s commitment to pay both direct employees and third-party contractors at least the voluntary living wage rate.
The living wage is an independently set hourly rate of pay that is calculated according to the basic cost of living. It is paid on a voluntary basis by employers and updated annually. Currently, the living wage rate is set at £8.45 an hour for employees across the UK, and £9.75 an hour for staff who work in London. The higher London living wage rate reflects the increased costs associated with living in the capital.
The voluntary living wage is distinct from the statutory national living wage that is paid to employees aged 25 and over. The national living wage rate is currently set at £7.50 an hour.
Neil Kadagathur (pictured), co-founder and chief executive officer at Creditspring, said: “We decided to become a Living Wage employer because [its] values and ideals perfectly match ours. We also believe that investing in our employees is the highest return investment we can get.”