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24 February 2022

LBG's publish 2021 results:
Information on GPS awards and Pay 2022

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It’s a big news day in Lloyds Banking Group

The Group’s results for 2021 have been generally well received but the share price dropped sharply as investors responded to the escalation of conflict in Ukraine and its potential impact on consumer confidence already weak because of the rising cost of living.

Accord welcomes the return of GPS awards following the disappointment (to put it mildly) for the 2020 financial year. We’re dealing with reactions from some members to the application of the modifier in grades D and above and other feedback.

In relation to the proposals for the April 2022 Pay Review, the uplift in the minimum increase from £500 to £1,000 is welcome.

Accord has not reached an agreement with LBG on the pay deal at this stage.

Pay ballot

Our members’ ballot goes live next Monday, 28th February.

It’s really important that members vote. We need a high turnout and a decisive outcome so we can determine the best way forward.

Here’s a short video from Accord's General Secretary, Ged Nichols, covering these key messages in a little more detail:

Ged's GPS & pay message

Any comments or queries should be sent to: [email protected]

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