We have achieved the Living Pension accreditation from the Living Wage Foundation, committing to helping all staff build adequate pension savings for a dignified retirement.

The Living Pension accreditation builds on our existing status as an accredited Living Wage Employer, setting an annual pension savings target based on a Living Wage salary that gives both the organisation and our employees confidence they are saving enough for the future.

As a Living Pension Employer, we will provide a Living Pension savings level to all directly employed staff, regardless of age and earnings, with plans to extend this to third-party contracted staff over time. All new employees will be automatically enrolled at the Living Pension level as a minimum.

Interim CEO Richard Munro said: "As a member-owned financial co-operative, supporting our colleagues' long-term financial wellbeing is fundamental to who we are. Today's cost-of-living crisis is tomorrow's pensions crisis, and we have a responsibility to ensure our team can retire with dignity.

"Our Living Pension commitment means our staff can have confidence they're building adequate savings for their future, while we can have peace of mind that we're doing the right thing by the people who make Commsave such a special place to work."

The accreditation comes at a crucial time, with millions in the UK facing potential pension poverty. Research shows that 4 in 5 workers in Defined Contribution pension schemes are not saving enough for an acceptable standard of living in retirement, while over 50% worry they will never be able to retire.

The Living Pension accreditation is available to all accredited Living Wage Employers and provides an annual savings target that makes it easier for responsible employers to support their workforce's financial security both now and in retirement.

We have long been committed to ethical employment practices, reflecting the co-operative values that guide everything we do. As well as paying the Living Wage, we invests heavily in staff development and wellbeing, creating an environment where the team can thrive personally and professionally.

Learn more about the Living Wage Foundation here.