

Commsave achieves Living Pension accreditation to support staff retirement security
Commsave Credit Union has achieved Living Pension accreditation from the Living Wage Foundation, committing to helping all staff build adequate pension savings for a dignified retirement.
The Living Pension accreditation builds on Commsave’s existing status as an accredited Living Wage Employer, setting an annual pension savings target based on a Living Wage salary that gives both the organisation and its employees confidence they are saving enough for the future.
As a Living Pension Employer, Commsave will provide a Living Pension savings level to all directly employed staff, regardless of age and earnings, with plans to extend this to third-party contracted staff over time. All new employees will be automatically enrolled at the Living Pension level as a minimum.
Interim CEO Richard Munro said: “As a member-owned financial co-operative, supporting our colleagues’ long-term financial wellbeing is fundamental to who we are. Today’s cost-of-living crisis is tomorrow’s pensions crisis, and we have a responsibility to ensure our team can retire with dignity.
“Our Living Pension commitment means our staff can have confidence they’re building adequate savings for their future, while we can have peace of mind that we’re doing the right thing by the people who make Commsave such a special place to work.”
The accreditation comes at a crucial time, with millions in the UK facing potential pension poverty. Research shows that 4 in 5 workers in Defined Contribution pension schemes are not saving enough for an acceptable standard of living in retirement, while over 50% worry they will never be able to retire.
The Living Pension accreditation is available to all accredited Living Wage Employers and provides an annual savings target that makes it easier for responsible employers to support their workforce’s financial security both now and in retirement.
Commsave has long been committed to ethical employment practices, reflecting the co-operative values that guide everything it does. As well as paying the Living Wage, the organisation invests heavily in staff development and wellbeing, creating an environment where colleagues can thrive personally and professionally.
This commitment to people extends beyond Commsave’s own team. Through its Community Fund, the credit union has awarded nearly £120,000 to charities, schools and grassroots groups since 2021, while its comprehensive financial education programme helps thousands of members build the skills and confidence they need to manage their money wisely.
Commsave Credit Union currently supports over 38,000 members across the UK, offering safe savings, affordable and responsible credit, and access to financial education. As a member-owned co-operative, it exists to serve its members and communities – not shareholders – providing ethical, not-for-profit services that support financial wellbeing.
Find out more about Commsave: www.commsave.co.uk
Learn more about the Living Wage Foundation: www.livingwage.org.uk