The Living Pension accreditation provides an annual savings target for Living Wage Employers to provide workers with financial security now and in the future.
The accreditation builds on the success of the Living Wage and sets an annual pensions savings target that employers can have confidence in, making it easier to do the right thing by their employees.
What is a Living Pension?
The Living Pension accreditation is open to all accredited Living Wage Employers. To become a Living Pension Employer, organisations must provide a Living Pension savings level, using either a cash or percentage target.
Annual saving benchmark of £3,150
This equates to 12% full-time Living Wage Salary.
* based on a Living Wage salary for a 37.5 hour week
The Living Pension must apply to all directly employed staff (regardless of age and earnings) and, over time, third party contracted staff within scope of the Living Wage. As well as making the minimum savings level available for existing employees, all new employees should automatically be enrolled on the Living Pension at least.
As part of the accreditation, employers must also agree to provide an annual communication on the Living Pension to all employees, and a template will be provided to support this.
The Living Pension savings target is applicable to Defined Contribution (DC) pension schemes. We also accredit employers providing Defined Benefit (DB) pension schemes. Further information on this is covered in our Guidance & FAQs below.
Why become a Living Pension Employer?
Becoming a Living Pension Employer is a practical way to tackle pension poverty and put your employee’s financial futures first.
The Living Pension accreditation demonstrates to customers, clients, investors and peers that you are one of the UK’s leading organisations on decent work. The Living Pension accreditation also demonstrates to your employees and customers that you care about your staff and are a forward-thinking employer.
We survey accredited employers about their motivations and experience of accrediting and what benefits it brings. You can see the latest results of this survey here.
The Living Pension was developed as a stretching standard within the parameters of the UK pension system. The Living Wage Foundation does not endorse or recommend any pension schemes or providers. All investment decisions are made by organisations and individuals, who should seek financial advice if needed.
Dear Green on why the Living Pension accreditation made sense for their business
Coffee company Dear Green in Glasgow decided to become a Living Pension Employer in additional to being a Living Wage and Hours Employer. In this video, they share why doing so was a great decision to support their staff both now and in their futures.
By extending the Living Pension to outsourced workers, businesses can ensure that everyone who contributes to their success can live with dignity and respect both now and in the future. Read more about how you can extend the Living Pension to your outsourced workers.
Going Beyond the Living Wage: Living Hours & Living Pension Information Sessions
The Living Wage, Living Hours and Living Pension accreditations are a practical way to help tackle in-work and post-work poverty and support your employees to thrive. They are the marks of a responsible employer, demonstrating an ongoing commitment to do the right thing by your employees.
Come along to find out more about the Living Hours and Living Pension schemes, and get your questions answered. You will hear from the team on how the schemes were developed, the criteria for accreditation and how the process works. There will then be plenty of time for questions in an informal setting, allowing our team to address any queries you may have.
122 Living Pension Employers
London Funders
London Funders is the membership network for funders and investors in London’s civil society.Penfold
Penfold is a digital workplace pension provider on a mission to help everyone save enough for a comfortable later life.Keep Britain Tidy
Keep Britain Tidy is an iconic and dynamic charity providing first class solutions to environmental challenges.
Fife Voluntary Action
Fife Voluntary Action (FVA) is the third sector interface for Fife.Capital City Partnership
Capital City Partnership is the management agency for the City of Edinburgh Council for employability contracts and manages the Edinburgh Job StrategyMy Life My Choice
Oxfordshire's only independent self-advocacy charity run by and for people with learning disabilitiesVeritau
Local authority trading company, providing assurance and other related services to councils, schools and third sector organisationsCoastline Housing
Registered Charity and Landlord wholly based in Cornwall. Providing housing management, homeless services, extra care & repairs & maintenance to 5100 homesInternational Longevity Centre - UK
ILC is the UK’s leading authority on the impact of longevity on society. We combine evidence, solutions and networks to make change happen.
The Poverty Alliance
The Poverty Alliance seeks to influence policies at all level that have an impact on poverty and can create the conditions for a more socially just Scotland.The Lines Between Ltd.
The Lines Between is a social research agency based in Edinburgh. We provide research, analysis & evaluation services for the public and third sector.Delton Power Limited
Electrical Engineering Contractors providing HV/LV installation & commissioning solutions on networks up to and including 132kVCounty Insurance Services
Specialist insurance provider and broker for Farm, Businesses and Thatch/Non-Standard Homes.
Learning and Work Institute
An independent policy and research organisation dedicated to lifelong learning, full employment and inclusion.Roslin Foundation
The Roslin Foundation is dedicated to advancing research and development in biosciences, particularly in agriculture and biomedicine.EMB Group
EMB Group provides a range of accreditation and risk management solutions, business improvement consultancy and growth services.DG Voice
We are a Disabled People's Organisation (DPO) operating in Dumfries & Galloway, run by & for disabled people & those with long-term health conditions.Falmouth Harbour
As a Trust Port our purpose is to safely manage the harbour to facilitate sustainable prosperity for the Port to benefit all Harbour users.
Dear Green Coffee Roasters
A Glasgow-based specialty coffee roastery, sourcing, roasting and supplying coffee, training and equipment across the UK.Marsden Building Society
Financial services - Building Society
Read our guidance and FAQs
Read for more guidance and FAQs on the criteria for the Living Pension accreditation.
Our methodology
Read for more information on our methodology for calculating the Living Pension standard.
