Fluidic Ltd has accredited as a Living Pension Employer, reinforcing its commitment to supporting staff in saving enough for a secure and dignified retirement.
Fluidic Ltd are a UK based supplier of process instrumentation and instrument solutions. Their main markets include, but are not limited to: Nuclear ; Pharmaceutical; Hospital Clean Rooms; Chemical ; Refrigeration ; Oil & Gas ; The Whisky Industry. Fluidic commented:
“We have a fantastic team at Fluidic and it’s the people that matter most here. The company want to repay the hard work that the staff give. To be able to benchmark our salary and pension structure ensures we are doing right by everyone”.
The Living Pension scheme, launched in March 2023, offers a practical solution for employers to help workers build sufficient retirement savings. Currently, 4 in 5 UK workers – around 16 million people – saving into Defined Contribution schemes are not saving enough to cover basic living costs in retirement. Among low-paid workers, the situation is even worse, with only 1 in 20 saving enough to cover basic living costs later in life.
Living Pension Employers with Defined Contribution schemes commit to a voluntary savings target, either:
- Cash target: £3150 annually (with employer contributing at least £1840)
- Percentage target: 12% of salary (with employer contributing a minimum of 7%)
Lynn Anderson, Living Wage Scotland Manager said:
“We are delighted that Fluidic Ltd signed up as a Living Pension employer, providing stability and security for their workers now and in the future. Over the last ten years the Living Wage campaign has grown in strength and numbers, with over 4,000 accredited Living Wage employers in Scotland. The Living Pension builds on this by encouraging employers like Fluidic Ltd to go further, helping staff save enough to meet basic needs in retirement.”