An Oxford University researcher, Dr Toby Ord, has pledged to give away a percentage of his salary to help fight poverty in developing nations.

Dr Toby Ord, an Ethics Researcher from Oxford University, has pledged to give charity a significant proportion of his salary over his lifetime – totalling more than £1 million through his new society, Giving What We Can.

Society members are required to take a public pledge to donate at least 10% of their salary to help fight poverty in developing countries. Dr Ord has calculated that both he and his wife will be able to donate around £2.5 million to charitable organisations over their lifetime.

Through research, Dr Ord discovered that experts view global health in terms of the “years of healthy life saved”. To save a year of healthy life in the UK, it could cost an average £30,000, however, in developing nations, the cost could be just £2. The £1 million Dr Ord plans to donate could save 500,000 years of healthy life.

He said: “I calculated that on an academic’s salary, I should be able to earn about £1.5 million over my career (in today’s terms). I realised that if I were to continue to live modestly like I have as a student, I should be able to give away about £1 million of this. My student years were not extravagant, but were immensely enjoyable, with the chief enjoyments such as reading beautiful books and spending time with my wife and friends costing almost nothing.

“Life on my current income is very good. If I spent the extra money on myself I could go on holiday more often, get an iPhone, eat out at expensive restaurants. It would be nice, but not all that much better. So I have a choice between greatly improving the lives of tens of thousands of people or adding a few extras to my life.”

Giving What We Can was set up by Dr Ord to offer support to others who also wanted to donate. The society shares information about the most effective charities and the most tax-effective ways to donate. Members – of which there are currently only 23 – can choose to donate their money to any organisation they feel appropriate.

People who earn more than £24,000 a year are in the top 1% of the richest people in the world. By giving away at least 10% of their salary, the society has determined that a typical member, over their lifetime, might be able to cure 5,000 cases of tuberculosis (saving 200 lives), save 35,000 years worth of healthy life, or produce 35,000 years of additional school attendance.

“Once you get used to the idea, it is actually not much of a burden. I feel much more purposeful in life. What is difficult is agonising over whether you can justify each luxury. By making a pledge you don’t have to do that anymore: you just live within your new means,” concluded Dr Ord.