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Affinity Private Wealth adopts the Living Wage Foundation Accreditation

Affinity Private Wealth has signed up to the Jersey Living Wage. Along with Jersey Finance and Stonehage Fleming, they are the first firms in Jersey’s finance industry to make the commitment to be Living Wage employers.

Living wage rates take into account the cost of living, taxes and the value of benefits available to working families on low incomes. Its aim is to make sure that, on average, a worker receiving the living wage rate, topped up by in-work benefits, is able to meet basic living costs. The Living Wage for Jersey is designed to cover essentials like housing, food and transport.

Julia Warrander, Group Director, Affinity said: “Paying the living wage is quite simply the right thing to do and is entirely aligned with the UN Sustainable Development Goal 8, namely ‘decent work and economic growth’. As a society, we need to ensure more equality in the distribution of income. Companies must consider all their stakeholders, including employees and suppliers and this accreditation demonstrates our commitment to this.”

Caritas Jersey has been licensed by the Living Wage Foundation in the UK to manage and co-ordinate the promotion of a ‘Living Wage’ in Jersey.

The Jersey Living Wage Campaign Team Leader, Jennifer Bridge, said: “We are delighted that Jersey Finance, Affinity Private Wealth and Stonehage Fleming have signed up to be Living Wage employers. The finance industry has an important role to play in eradicating poverty and reducing inequality in Jersey. Its impact goes beyond those directly employed in finance, where salaries have traditionally been good. The Living Wage campaign is focusing on lifting the wages of cleaners, security guards and other staff of outsourced services which are not directly employed by the industry and where the Living Wage is not so common. We know that there is a growing appetite in Jersey to do business ethically and do it well. Now that we have a number of finance businesses behind the campaign, we hope that others will shortly follow suit.”

Background

Living wage rates take into account the cost of living, taxes and the value of benefits available to working families on low incomes. Its aim is to make sure that, on average, a worker receiving the living wage rate, topped up by in-work benefits, is able to meet basic living costs. Jersey Finance's policies and procedures have been updated to reflect the Living Wage requirement. Caritas set up an Advisory Committee consisting of the Dean of Jersey, members of other Island Churches, trade unionists, politicians and community leaders.

To find out more about the Living Wage and how to join, please click here.