Saturday 17 March 2018

Workers at Central Bank to get pay rise

More than 250 workers at the Central Bank and Financial Services Authority are to get pay rises worth up to 20pc despite the public sector pay freeze, writes Anne-Marie Walshe.

However, the bank's lower-paid staff -- in positions such as currency printing, catering and security -- will be prohibited from taking industrial action under the deal brokered at the Labour Relations Commission.

The workers are being compensated for their exclusion from a wage review in the early 2000s which benchmarked the salaries of those on higher pay grades -- including economists and administrative staff -- with comparable private sector pay rates.

UNITE, representing workers in the Central Bank Group of Unions, said the pay rise was justified. "It's been outstanding for at least four years," said union official Brendan Byrne.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business