Everton Football Club has committed to providing a living pension standard to all employees.
Everton has signed up to the Living Wage Foundation’s living pension accreditation, a voluntary standard to ensure that all employees, including lower-paid staff, are supported to save for a decent standard of living in retirement.
Signing up to the living pension accreditation means Everton FC is providing more than the legal minimum to help boost employees’ pension savings and improve their retirement outcomes. The employer has committed to paying pension contributions designed to keep workers out of poverty in later life.
All employees at the club will now receive a total annual pension contribution of at least £2,950, with a minimum of £1,720 coming from the employer, pro-rated for part-time staff.
The living pension scheme requires to contribute at least 7% of an employee’s salary, significantly more than the legal minimum of 3%, as part of a total savings target of 12%.
This can also be met through a cash benchmark, as Everton has chosen to do.
Alison Haynes, chief tax and people officer at Everton FC, said: “The club has for many years made pension contributions on behalf of our people which are considerably in excess of the auto-enrolment requirements. Now, with the support of our new owners The Friedkin Group (TFG), we are able to take this further step to improve the lives in retirement of our valued colleagues.”
Katherine Chapman, director of the Living Wage Foundation, said: “We are delighted that Everton is leading the way as a responsible employer by becoming the first Premier League Club to sign up to the living pension. Just as the real living wage ensures workers can meet their everyday needs today, the living pension helps them plan for a retirement where they can live with dignity and security. By signing up to the living pension, Everton, as a prominent football club, is sending a powerful message that everyone should have a decent standard of living now and in the future.”