People can expect an increase in their salary due to a rise in the nationwide Real Living Wage.
The scheme is estimated to be helping around 300,000 people.
The Real Living Wage is often confused with the National Living Wage.
The latter is the minimum an employer is allowed to pay an employee an hour and is a compulsory rate set by the government.
The National Living Wage saw rises in chancellor Richi Sunak's recent budget from £8.91 to £9.50 an hour for workers over the age of 23.
The Real Living Wage is higher than this.
But what is the Real Living Wage?
What is the Real Living Wage?
The Real Living Wage is not compulsory, but a guideline salary based on the cost of living.
This has been expected to go up as the rise on the cost of living for people in the UK has increased due to things like inflation and soaring energy prices.
The government aims to tackle this with higher wages and increases to the National Living Wage, but some believe this falls short of what is really required.
The Real Living Wage differs for those who live in London, compared to those outside of it as the cost of living in the capital is much higher.
The pay rates are set independently by the Living Wage Foundation, an organisation that encourages businesses to sign up to the scheme so that workers are treated and paid fairly in tune with how much the current situation in the UK is actually costing them.
How much is the Real Living Wage now and when was it introduced?
The Real Living Wage is being raised by 40p per hour to £9.90. This is as opposed to London, where there has been a smaller boost of 20p, to £11.05 per hour.
It was started by Citizens UK in 2001 and it is now estimated that one in 13 people work for a real living wage employer.
The Trades Union Congress general secretary Frances O’Grady said that the government's current wage measures do not go far enough.
"After 11 years of Conservative government, real wages are only just getting back to their 2009 level, and the Budget revealed we face another half decade of wage stagnation.
"With Britain in the middle of a cost-of-living crunch, it’s time for the Government to act."
What does the new Real Living Wage mean for you?
Close to 9,00 employers have adopted the voluntary living wage measures, which could see an estimated 300,000 people getting a wage rise.
The Living Wage Foundation estimates that around 5 million people in Britain earn less than the figures.
Over the past year, there has been a relative cut to universal credit, the end of the furlough scheme and inflation that is expected to get worse.
On top of this, there is also a 1.25% National Insurance hike that will act as a social care levy from next April to raise £12billion more for the NHS and social care.
The energy price cap, meanwhile, was raised by 12% at the beginning of October, in reaction to record high prices and a global demand shortage.
Living Wage Foundation director Katherine Chapman said: "With living costs rising so rapidly, today's new Living Wage rates will provide hundreds of thousands of workers and their families with greater security and stability.
"For the past 20 years, the Living Wage movement has shaped the debate on low pay, showing what is possible when responsible employer's step up and provide a wage that delivers dignity."
