10 January 2018: LBG publish pay 2018 proposals
Lloyds Banking Group published its pay proposals for April 2018 following negotiations with Accord and Unite at noon today.
The main points are:
- a pay budget of 2.5% has been offered
- an underpinning minimum increase of £600 (pro-rated where appropriate)
- pay ranges to increase by 3% for grades A and 2% for grades B – G
- A joint review of Performance Management will be undertaken
An email and newsletter was sent to all Accord members this afternoon with more information about the proposals. A copy is available here.
Accord has not reached an agreement with the Group at this stage.
Members now have the chance to have their say in an independent and confidential ballot which will run between 29 January and 14 February 2018.
Accord members will receive information about how to take part in the ballot soon.
The results will be published and the next steps will be determined by Accord’s Principal Executive Council.
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