Members of the main union representing workers at Ulster Bank have voted in favour of a proposed average 3 per cent pay rise this year for most of its staff in the Republic.
“Ulster Bank is committed to paying people fairly and motivating and rewarding staff,” a spokeswoman for the bank said.
“In line with this, we have confirmed pay increases for our people, particularly those lowest in their pay range. Our pay arrangements for 2019 supports our continued commitment to making base pay management simpler, clearer and fairer for our colleagues.”
Under the terms of an agreement between the bank and the Financial Services Union (FSU) late last year, and approved by staff in recent weeks, half of 1,500 staff benefiting from the planned pay rise from April 1st will receive more than a 3 per cent increase, while the other half will receive between 1.25 per cent and 3 per cent.
Proposals ‘reasonable’
Ulster Bank in the Republic, a unit of Royal Bank of Scotland, had 2,800 staff at the end of June. Meanwhile, staff currently on more than their normal pay range and not eligible for an increase will benefit from a one-off cash payment of €400-€500.
"While the proposals are not everything we wanted, we feel they are reasonable in the context specifically of Ulster Bank, and members have accepted them," said Gareth Murphy, acting general secretary of the FSU. "Members influenced their union's negotiating position earlier in [2018] through surveys and then got to vote on the final proposals."
Separately, some 80 per cent of AIB's 10,000-strong workforce are also set for a 3 per cent pay increase this year, as negotiations between the bank and FSU, brokered at the Workplace Relations Commission, concluded earlier this month.
The union will ballot its members on the proposals from early next month. The FSU is also negotiating with Bank of Ireland management on a pay rise for its members in the bank.
