10 January 2019: LBG publish 2019 pay proposals

Lloyds Banking Group has published its pay proposals for April 2019 following negotiations with Accord and Unite.

No agreement with the Group has been reached at this stage.

The main points of the offer are:

  • Pay groups and ranges for grades A to G will be increased by 2% from 1 April 2019.
  • A pay budget of 2.6% with an underpinning minimum increase of £600 (pro-rated where appropriate and subject to performance assessment and grade maxima).
  • A new minimum salary for the Group of £17,510 to be introduced from 1 April 2019.
  • If the pay proposals are accepted, a joint review of the differentiation between grades A & B will be carried out this year in recognition of the increased skills and capabilities needed by front-line colleagues due to more complex customer demands and other factors.
  • Also, if the proposals are accepted, the implementation of the changes to the concessionary staff mortgage scheme which were announced in October 2018 will be postponed from 1 July 2019 to 1 January 2020.

A newsletter with more information about the proposals is available to view here.

Accord members will have the chance to have their say in an independent and confidential ballot which will run between 25 January and 14 February 2019. 

Information about how to take part in the ballot will be issued soon.

When the ballot results are available, Accord’s Principal Executive Council will determine the next steps.

Any comments or queries should be directed to ged.nichols@accordhq.org

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