Palladium UK has been accredited as a Living Pension Employer, marking an important milestone in the organisation’s approach to fair pay, responsible employment, and long-term financial wellbeing for its people.

The accreditation, awarded by the Living Wage Foundation, recognises employers that meet a clear benchmark for workplace pension provision, helping ensure employees can save enough to meet basic living standards in retirement. It builds on the Living Wage by shifting attention beyond pay today to financial security over a lifetime.

“We believe long term financial security is a fundamental part of wellbeing,” says Palladium’s Amelia Beeley. “The Living Pension reflects our commitment to acting responsibly, supporting our people beyond today, and ensuring work at Palladium contributes to a secure and dignified future.”

Why the Living Pension Matters

Workplace pensions play a critical role in financial security, yet research suggests many employees are still not saving enough for retirement. Recent research shows that four in five workers in defined contribution pension schemes are currently undersaving for a basic standard of living in retirement.

While the statutory minimum under UK auto enrolment requires total pension contributions of 8% of qualifying earnings, with employers contributing at least 3%, evidence shows these minimums are often insufficient for long-term adequacy. By contrast, the Living Pension benchmark equates to around 12% of a full-time Living Wage salary, offering a clear, research-backed savings target for employers that want to go further.

Recent analysis commissioned by the Living Wage Foundation found that the average pension pot required for a basic standard of living has risen sharply, driven by higher housing, energy and everyday costs. The research estimates that a worker now needs retirement income of approximately £19,300 per year to meet basic living standards, requiring an additional pension pot of around £107,800, on top of the full State Pension.

Living Costs Today, Pressures Tomorrow

These findings sit within the wider UK cost of living context. While inflation has eased since its 2022 peak, households are still facing significantly higher costs than just a few years ago. Average private rents have continued to rise at record rates, and food and energy prices remain a source of pressure for many households.

Low income households have been particularly exposed, experiencing higher than average inflation and sharper falls in real income over recent years. As experts have pointed out, today’s cost of living challenge risks becoming tomorrow’s pensions crisis unless savings levels improve.

“With the cost of living continuing to put pressure on households, it’s more important than ever that we balance today’s needs with tomorrow’s security. As an employer, we see long‑term financial resilience as a shared responsibility,” Beeley adds.

What the Accreditation Means in Practice

Importantly, Palladium UK’s Living Pension accreditation does not introduce any change for employees. Palladium already exceeds both statutory requirements and the Living Pension benchmarks, and the accreditation formalises existing strong practice rather than altering pension arrangements.

With relatively few UK employers currently accredited, Living Pension status also positions Palladium as a standout employer from both a benefits and employee experience perspective.

Part of a Broader Commitment

The Living Pension accreditation sits alongside Palladium UK’s Living Wage accreditation, reinforcing the organization’s commitment to fair pay, responsible employment and continuously improving the employee experience.

“The Living Wage and Living Pension together reinforce Palladium’s employer proposition: we aim to be fair and competitive today, while also helping colleagues build long‑term financial wellbeing,” she explains.

“It’s a clear signal of the kind of employer we want to be.”

As the UK workforce navigates ongoing economic uncertainty, the Living Pension offers a practical way for employers to help employees build resilience not just for today, but for life after work. For Palladium UK, this accreditation reflects a long-standing belief that decent work includes the ability to live with dignity now and into retirement.