Investors should persuade supermarkets to pay Living Wages

FairPensions has responded to a report, released today by the Fair Pay Network, on low pay in Supermarkets. With almost 900,000 people working for one of Britain's four largest supermarkets, the report exposes the widespread low pay problem in the sector.

Catherine Howarth, CEO of FairPensions, has been spearheading a shareholder campaign for Living Wages in the FTSE 100. Earlier today she said that major investors, particularly UK pension funds, should be focussing on the low pay problem in supermarkets:

"With 29% of low paid people in the UK employed in the retail sector and a compelling business case for Living Wage standards, it's time that investors use their clout to persuade supermarkets to lift workers out of poverty"

Ms Howarth went on to say:

"UK pension savers are heavily invested in the country's major supermarkets and want to see the sector achieve financial success. We have an interest as investors and as citizens in tackling the low pay problem revealed by this research. Major shareholders will be under pressure to rein in excessive executive pay in 2012 but the low pay problem in our economy deserves close attention too. With the government continuing to tighten its belt, it is time for the big supermarkets to become Living Wage employers."