Almost half a million workers across the UK are set to see a pay rise very soon as the Real Living Wage will be increased by 10%.

The voluntary rate has risen to reflect the ongoing cost-of-living crisis for workers, and employers will have six months to implement it.

More than 460,000 people working for 14,000 employers who pay the rate will receive a wage rise as a result.

The Living Wage Foundation said its rates will increase to £12 an hour outside London, which is a rise of £1.10.

Bournemouth Echo: Employers will have six months to implement the new rates Employers will have six months to implement the new rates (Image: PA)

Meanwhile, those who are on the Real Living Wage and work in the capital will see a £1.20 increase to £13.15 an hour.

New Real Living Wage rate a 'lifeline' for workers

Discussing the increase in its rates The Living Wage Foundation said it reflects “persistently high costs” for low-paid workers.

More than two in five low-paid workers say they regularly use a food bank and almost as many report falling behind on household bills, they stated.

Living Wage Foundation director Katherine Chapman described the new rates as a "lifeline" for workers.

Bournemouth Echo: The Living Wage Foundation has said the new rate is a 'lifeline' for many workersThe Living Wage Foundation has said the new rate is a 'lifeline' for many workers

She said: “As inflation eases, we cannot forget that low-paid workers remain at the sharp end of the cost-of-living crisis.

“Low-paid workers continue to struggle with stubbornly high prices because they spend a larger share of their budget on food and energy.

“These new rates are a lifeline for the 460,000 workers who will get a pay rise.”

What is the difference between the Real Living Wage and the Minimum Wage?

On The Living Wage Foundation website, it says the Real Living Wage is "the only UK wage rate based on the cost of living."

"It is voluntarily paid by over 13,000 UK businesses who believe their staff deserve a wage which meets everyday needs - like the weekly shop, or a surprise trip to the dentist," they add.

In comparison, the National Minimum Wage "is the minimum pay per hour almost all workers are entitled to" according to the Government website.

Whilst the Real Living Wage is a voluntary measure to meet for employers, the National Minimum Wage is a legal requirement.

The National Minimum Wage is dependent on the age of the employee, as if you are an apprentice or under the age of 18 it is currently £5.28 an hour.

This rises to £7.49 for 18-20-year-olds, £10.18 for 21-22-year-olds and £10.42 for those who are aged 23 and older.

For those who are in the 23 and over bracket, the terms change from the National Minimum Wage to the National Living Wage.