Asda will increase retail pay rates to £12.04 per hour from 1 July 2024. Credit: © Asda.

UK supermarket chain Asda has confirmed that its store-based colleagues have agreed to its hourly pay increase proposal of £12.04 ($15.29), alongside the introduction of two new colleague benefits.  

The pay rise, accepted by colleagues following a ballot by members of the trade union Usdaw, represents an 8.4% increase from the current £11.11 rate, representing a £150m investment in staff remuneration.  

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The rate will initially increase to £11.44 on 1 April 2024 to meet the UK’s National Minimum Wage requirements, with a subsequent rise to £12.04 on 1 July.  

For those working in stores inside the M25 London orbital motorway, the new rate will be £13.21 per hour.  

Asda chief people and corporate affairs officer Hayley Tatum said: “We have made a record investment in pay this year to recognise the great work our colleagues do serving customers every day and we are delighted that our proposal has been accepted.” 

In addition to the pay increase confirmation, Asda has launched two new benefits for its 150,000 colleagues.  

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The Care Concierge service, managed by Legal & General, provides expert assistance on later-life care for loved ones, while the Mortgage Advice Bureau offers comprehensive guidance for property purchase or remortgaging.  

These benefits are available to all colleagues at no charge and complement the existing support resources, which include access to a private GP service, mental health support and flexible wage services through Wagestream. 

Legal & General defined contribution head Rita Butler-Jones said: “We are pleased to be working with Asda to support their employees through our Care Concierge service. We know that finding and funding later life care can be a daunting and stressful task – especially when balanced with work and family commitments.”