TSB announce changes to reward package
TSB has announced changes to the reward package for colleagues in grades B, C & D from 1 January 2023.
The changes result from discussions between Accord, Unite and TSB aimed at helping staff with the cost-of-living.
The talks are continuing and we expect the next phase to affect all members in grades B to F.
That said, the changes that have been announced today are important and present the output from the first phase of pay negotiations between Accord, Unite and TSB.
- The Flex allowance will increase from 4% to 9% for staff in grades B, C & D while on-target variable pay will reduce from 10% to 5%
- Holiday allowances for staff in grades B, C & D colleagues will be increased
- Staff in grades B & C will be eligible for employer funded private medical insurance
Any feedback on this stage of the 2023 pay negotiations should be referred to [email protected].