Phoenix Group, the UK’s largest long-term savings and retirement business, announces today during Living Wage Week 2020, that it will be extending its payment of the Real Living Wage to include those regularly contracted through its supply chain, alongside its on-going commitment to all colleagues directly employed by the Group.
As a fully accredited Living Wage Employer, Phoenix is committed to ensuring that contractors who operate on its premises will be paid the Real Living Wage. This includes those who work two or more hours a week, for eight or more consecutive weeks a year onsite. The Group will be working with the Living Wage Foundation to ensure that all suppliers meet these requirements within a 3-year period.
Tony Kassimiotis, Group Chief Operating Officer at Phoenix Group, said: “We’re proud to be working with our supply chain to ensure that in the future, all those operating across our many sites in the UK will be paid the Real Living Wage as a minimum. Ensuring that people earn a wage which is enough to live on is the right thing to do, not only for ourselves but also for our partners. We believe this will have a positive impact on our partnerships and in the communities in which we operate.”
Today the Living Wage Foundation has announced that the Real Living Wage to be introduced from April 2021 will be £9.50 and £10.85 in London for those 18 and over. Over a three-year period Phoenix is also committing to ensuring that the Real Living Wage as a minimum will apply to all colleagues under the age of 18, apprentices and interns, going above the minimum requirements set out by the Living Wage Foundation.
Sara Thompson, Group HR Director at Phoenix Group said: “As a FTSE 100 company, and the UK’s largest long-term savings and retirement business, employing over 7,000 people in the UK, it is important for us to continue doing the best we can for our colleagues, our community and our customers. Paying the Real Living Wage continues to be the right thing to do, particularly in these challenging times. It helps us to attract, motivate and retain a diverse range of colleagues which benefits our business and our customers. In turn, that brings benefits to the communities where we operate which is important too. We fully support the Living Wage Foundation and encourage other organisations to become fully accredited Real Living Wage employers.”
ENDS
Enquiries
Shellie Wells
Head of Corporate Communications
Phoenix Group
020 3735 0922 / 07872 414 137
shellie.wells@thephoenixgroup.com
Rachel Esland
PR and Public Affairs Manager
Phoenix Group
0131 245 0489 / 07892 705093
Rachel.esland@thephoenixgroup.com