Business Irish

Monday 10 December 2018

Ulster Bank staff to vote on pay rise

Ulster Bank's headquarters in Dublin
Ulster Bank's headquarters in Dublin
Ellie Donnelly

Ellie Donnelly

Staff at the country's third-biggest bank have been asked to vote on proposals that would see their pay increase by up to 5pc.

Pay proposals negotiated by the Financial Services Union (FSU) and management at Ulster Bank would see a majority of staff in the Republic of Ireland and Northern Ireland receiving between 2pc and 5pc pay increases in April 2018.

A ballot of union members will start tomorrow and conclude on Friday January 26, the FSU said.

"We have concluded a set of proposals through direct talks with the bank which, if accepted by members, will see a majority of Ulster Bank staff receiving between 2pc and 5pc pay increase this year," said senior FSU official Gareth Murphy.

"We also have achieved a further opportunity to negotiate on disputed pay ranges.

"These have been tough negotiations but we feel these proposals are the best we can achieve with Ulster Bank at present."

Last year, union members at Ulster Bank rejected a pay deal that sought to change pay ranges for many staff.

That did not include pay reductions, but the union argued that the move would have affected future earnings including potentially excluding some staff from rate increases.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business