Living Wage

Living Wage

A living wage is the minimum income a worker needs to be able to meet basic living expenses: rent or mortgage payments, energy and telephone utilities, municipal taxes, food, clothing, transportation and other essentials. In the UK, the National Minimum Wage is the minimum pay per hour most employed workers are entitled to. The National Living Wage is higher than the National Minimum Wage and payable to workers over the age of 23. Both are statutory. Contracts for payments below the minimum wage are not legally binding, although certain classes of worker are not entitled to the National Minimum Wage or National Living Wage: the self-employed, company directors, voluntary workers, the armed forces and several others.

logo-animationlogo-animationlogo-animation

Related terms