TSB announce variable pay award & pay review for 2025
The TSB variable pay award payable in March 2025 has been announced.
It will be 5.9% of salary for all eligible staff in grades B-D and 11.7% of salary for eligible staff in grades E and F.
For staff in grades B-D, 5% of the variable pay award has been paid through Flex since January 2023 as additional fixed pay.
Pay review 2025
Accord and Unite have been in discussions with TSB for some time about the pay review due with effect from 1 April 2025.
The bank is proposing salary increases of 3.3% for all eligible staff in grades B to E and an increase of 2.5% for all eligible staff in grade F.
The pay offer is above the current rate of inflation.
With the variable pay award and pay offer taken together, our view is that TSB’s reward proposals stand up against others in financial services.
We want your input
What our members think is more important – so let us know!
To enable us to decide the next step, members in TSB should email [email protected] with their views on the offer no later than Friday 14 February.
We look forward to hearing from you.
After extensive discussions with TSB our view is that, taken together, the variable pay award and pay offer stand up against others in the financial services sector. However, decisions in Accord are made by members and we’re keen to hear what they think. I’m writing to members about this today but others can join us and have their say too.
Ged Nichols, Accord General Secretary
