West Brom Building Society is proud to announce that it’s been accredited with the Living Pension, making it the first building society in the UK and the first employer based in the West Midlands to achieve all three Living Wage Foundation’s key standards: the Real Living Wage, Living Hours, and Living Pension.
The achievement is a major milestone in the Society’s commitment to supporting colleagues with fair pay, secure hours and strong pension contributions – a journey that began in 2020 when the West Brom first partnered with the Living Wage Foundation.
The Living Pension standard recognises employers who contribute enough to workplace pensions to help employees build towards a decent standard of living in retirement.
In 2020, the Society gained the Real Living Wage accreditation, ensuring all directly employed and third-party contracted staff are paid at least the Real Living Wage, which is independently calculated based on the cost of living. The Living Hours accreditation, which was awarded in 2022, recognises employers who offer secure, stable working hours and predictable shift patterns.
By securing all three accreditations, West Brom Building Society is setting a new benchmark for responsible employment, ensuring its colleagues are supported not just for today, but well into the future.
Sophie Pazzaglia, Chief People Officer at West Brom Building Society said: “We’re incredibly proud to reach this milestone, which has been several years in the making. Being recognised as the first building society in the UK, and the first employer in the region, to achieve the triple Living Wage Foundation accreditation shows how seriously we take our responsibility to our colleagues.
“We believe in creating a more secure future for our people, that is why our long-term investment into colleague wellbeing through gaining this accreditation, helps to show that our people are at the heart of what we do and why we exist.”
Katherine Chapman, Director, at the Living Wage Foundation said: “We’re delighted that West Brom Building Society has gained our triple accreditation. As the first building society in the UK to reach this milestone, the West Brom is setting a powerful example for the financial sector, demonstrating that good business means ensuring financial security for workers, now and in retirement.”
“By going beyond the minimum and committing to fair pay, secure hours, and adequate pension contributions, the West Brom is raising the bar for responsible employers nationwide. We hope their leadership will inspire others to follow suit.”