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Bonuses for Bank of Ireland

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Larry Broderick, Irish Bank Officials Association

Larry Broderick, Irish Bank Officials Association

Larry Broderick, Irish Bank Officials Association

Unions at Bank of Ireland have voted to accept a pay deal that includes the first pay increases in seven years, including a once-off bonus worth 5pc of pay.

Around 6,000 staff at Bank of Ireland will get a 3.7pc pay rise over the next three months as well as an additional one-off bonus payment that will arrive in time for Christmas, under the scheme.

The details of the plan were announced by the bank in October. Members of the IBOA voted to accept the deal, the union said yesterday.

"The framework agreed in Bank of Ireland after six months of intensive talks between management and IBOA, will also provide an intelligible and consistent career path for all employees - with due recognition for relevant professional qualifications. It also includes very clear bargaining arrangements through which future remuneration will be determined from 2016 onwards," the IBOA General Secretary Larry Broderick  said.

Herald