Lloyds Banking Group operates a Group Performance Share plan which distributes part of the group's profit back to colleagues when business performance objectives are met for a financial year. The GPS scheme replaced a previous bonus scheme and is non-contractual.
Details of any GPS award will be made available following the publication of the bank's full-year results. GPS awards are paid in March and are for the previous performance year.
This was last updated to cover the terms for the 2022 GPS award due for payment in March 2023.
There is a process you can use to challenge and review GPS decisions applied to you. The process may change from year to year.
Find out how you can challenge your award in our article Challenging a Group Performance Share (GPS) award.