Pay proposals for 2023 published following negotiations with Accord and Unite.
We know from feedback and debates at our conference that what members need most right now is more money in their pockets.
The £1,000 payment we secured and was paid in August (pro-rated for part time staff), whilst welcome, simply wasn’t enough to get people through what’s become a seemingly never-ending cost of living crisis.
So, we’ve been hard at it on members’ behalf ever since then.
Negotiations have been intense but we’re pleased with the outcome overall and the Principal Executive Council is recommending that members vote in favour of the offer in a ballot that will open next week under independent supervision by Civica Election Services.
Watch a short video message from Accord’s Ged Nichols:
Full details of the offer have been published today. The headlines are:
- A minimum pay rise for a full-time member of staff of £2,000 (pro-rated for part time staff)
- Awards of up to 5% of salary will be paid where 5% is more than £2,000 (subject to a maximum award of £5,000)
- An additional £500 payment for staff in grades A – D if agreement is reached
- Increases in the minimum salaries in grades D & E
- Consolidation of Flex for everybody and part of GPS for staff in grade D and above that will increase monthly take home pay further from July 2023
Taken together, the pay award and additional £500 payment amount to around 13% for the lowest paid staff. An an increase to minimum starting salaries that’s 10% higher than the real Living Wage.
We think that Lloyds Banking Group has responded positively to our claims and is putting more money in members’ pockets when they need it most.
Members can use our pay calculator to work out what the offer means to them.
Voting credentials will be issued to Accord members by email on Monday 7 November.
Any queries should be referred to [email protected].
