The London Living Wage has increased to £9.40 an hour from £9.15. If you earn the living wage, you should expect to see the change in your pay packet within six months.
The London Living Wage is a reflection of the fact that the capital is more expensive to live in than the rest of the country — however, unlike the minimum wage, it's voluntary. 724 companies are accredited London Living Wage employers (though we're sure there will be others that have taken on the principle, but haven't done the paperwork).
Sadiq Khan, Labour's candidate for mayor, said:
Living Wage Week is an important opportunity to recognise and celebrate the employers who do the right thing by ensuring that all of their workers earn at least enough to afford a decent standard of living. But we also need to shine a light on the fact that still far too many working people in London live in poverty. Nearly 700,000 London workers are paid less than the [current] London Living Wage, and 1.2 million Londoners in poverty are part of a working family.
It's also worth noting that this increase takes the living wage even further away from the government's new 'national living wage' (i.e., an increased minimum wage) which is due to hit £9 an hour by 2020.