Share this article A living wage could be introduced by 2025 under plans being launched by the Government today. The Low Pay Commission has formally begun work to replace the minimum wage with one based on the cost of living. The Tánaiste and Minister for Business Leo Varadkar has published the terms of reference for the commission to examine introducing it in the lifetime of this government, which he hopes will run to 2025. The Living Wage is being defined as the minimum income needed for a single, childless, full-time worker to meet their basic needs and afford an acceptable standard of living.