Invite a research partner to calculate your living wage – The Royal Gazette

Updated: November 21, 2024, 9:47 pm

A methodology for estimating the minimum income required to meet the needs of workers, known as the subsistence level, was adopted by the organization tasked with establishing the island’s legal income.

The Wage Commission announced that it has adopted Anker’s international living wage methodology and issued a request for proposals for “a qualified research partner to conduct a comprehensive analysis.”

Anker’s methodology estimates “fair, sustainable wages” to cover basic needs such as food, shelter and other necessities, with a small margin for unexpected events.

The project aims to produce results that are “locally relevant and reflect a decent standard of living,” the commission said.

The group chose this method for its “transparency, practicality and adaptability to local conditions.”

“In addition, it takes into account local government services and deductions, ensuring that the final salary supports a decent quality of life without creating an undue burden on employers,” it added.

In 2021, the commission reported on its recommendations for the minimum hourly wage rate in Bermuda.

At that time, the cost of living assessment was delayed due to the choice of supplier.

The commission said its request for proposals and vendor selection will run from this month until March 2025, with a research partner expected to be selected by early next year.

The research is expected to take place from April to December 2025 and will begin with an analysis of the cost of food.

Housing will be examined next, followed by the cost of other essentials.

Next, a contingency reserve analysis will be carried out, and the study will conclude with final calculations.

Community engagement, during which the commission will share its findings and receive feedback, is planned for January-March 2026, with final recommendations due in June 2026.

The Basic Needs Survey will be based on data from the Department of Statistics’ Current Household Income and Expenditure Survey, which is needed to determine the true cost of living on the island.

The commission encouraged those selected to be interviewed to complete their review of the department.

Questions about this process can be sent by email to [email protected].