Living Pension is a Living Wage Scotland accreditation for employers who want to support employees to save enough to meet their everyday needs in retirement.
Wheels In Nairnshire (WIN) has accredited as a Living Pension Employer. As an early adopter of Living Pension, their commitment will see everyone working at Wheels In Nairnshire receive a fair and livable contribution toward their pension.
Through their Living Pension commitment, WIN is raising the standard for pension savings so their employees can afford to live with dignity in retirement.
WIN is a charity that provides personal transport for all residents of Nairnshire, Ardersier, Petty, Croy and Tornagrain. This includes professional and volunteer drivers, and includes services such as getting to medical appointments, doing shopping and more.
Living Wage Scotland’s Living Pension scheme is a practical way for employers to help workers save enough to meet living costs in retirement. It launched in March 2023.
In the UK, 4 in 5 workers, or 16 million people, are currently not saving enough each year to meet basic living costs in retirement. This includes only 1 in 20 low-paid workers.
Living Pension Employers commit to a voluntary savings level using either a cash (£2,950) or percentage (12%) target. The employer needs to contribute a minimum of 7%, or £1,720, depending on whether they use the cash or percentage target.
Jon Wartnaby, Manager WIN said:
“Every day we help people who are struggling financially after retirement. It’s only right that Wheels in Nairnshire, as a responsible employer, works to ensure our valued team members don’t face the same financial pressures when they retire.”
Lynn Anderson, Living Wage Scotland Manager said:
“We are delighted that Wheels In Nairnshire has 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. Now paid by nearly 16,000 employers, it delivers essential pay rises to almost half a million workers every year. The Living Pension builds on this by encouraging employers like WIN to do more to help their workers build a pension pot that meets basic everyday needs in retirement.”