Aberdeen Asset Management to pay living wage

Aberdeen Asset Management has been accredited as a living wage employer.

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The accreditation is a formal agreement by the asset manager to pay all UK employees, from permanent staff to contractors and temporary workers, at least £7.65 an hour, or £8.80 in London, which is higher than the current minimum wage of £6.31 an hour.

The organisation is one of only 22 employers in the finance sector and one of 25 organisations in Scotland to receive living wage accreditation.

In January, the employer increased base salaries for employees by 4% for 2014.

Andrew Laing, deputy chief executive and head of the corporate responsibility committee at Aberdeen Asset Management, said: “We are a people business. Corporate responsibility is a fundamental part of our business ethos and we strongly believe in investing in all our people.

“Although the finance sector may be associated with salaries well above the living wage, it is very important for us to remember that without a strong support network of contracted staff, who help to keep our facilities running, none of us can operate at our best.

“I would encourage other firms to follow suit and ensure that all their employees over 18, who regularly work at the premises, including employed, contracted and subcontracted staff, are earning a living wage.”