Pay update - PTSB

An update on our union pay negotiations for 2025 has been posted on WorkVivo. It says:

 BANK & GROUP OF UNIONS – Pay Negotiations

Update #2

Following the issue of Update #1 on 09.05.25, the negotiations towards Pay-25 have commenced under the recently agreed Protocols and are now ongoing. Dates for further meetings are in the process of being arranged.

Agreement on the name of the agreed Arbitrator, who will make a final determination regarding the value of a once-off voucher to be paid to Levels 6-3, has been reached. The Arbitration is set for 4th June and a decision is expected to be issued shortly thereafter.

As already advised, there were a number of more minor issues raised by individual Unions which made up the Pay-25 Agenda. These issues have been receiving attention and either resolutions have been reached, with summary details hereunder, or in one case, a working group has been established with the Union to resolve the issue and facilitate the negotiations.

The affected groups of members will be contacted/informed directly by their individual with specific details of the outcomes to these issues from the talks.

These issues can be summarised as follows:

1. A small number of members who were affected by a residual issue remaining following the completion of Project Sun;
2. [a] The reinstatement of the Broadband Allowance for impacted IT/technical staff, and [b] a more appropriate/equitable ‘On-Call’ Allowance (IT/technical staff);
3. [a] A legacy issue concerning certain L3s/leave now has a resolution, [b] a small number of members with an F&P/IOB BIK Professional Subscription matter now have a solution proposed, and [c] improvement of the F&P/IOB BIK Professional Subscription process for 2026 and beyond is being proposed.

On the more major aspects comprising the Pay-25 negotiations, i.e. (i) the ‘structure’ of the PTSB system of pay, (ii) the Pay-25 increase itself, as well as the issue of (iii) Variable Pay will make up the three items on the major Agenda. The Bank and the Group of Unions have agreed that a ‘Reset’ of the pay system is both desirable and required and will be the first component of the 2025 Pay Negotiation Agenda.

The parties agreed that these negotiations required some overarching principals within which the agenda will be approached. Both the Bank and the Group of Unions have further agreed that ‘Simplicity,’ ‘Transparency’ and ‘Equity’ shall be set as the guiding principles to inform their joint approach to resolving these major agenda matters. Once some forward-facing measure of agreement can be identified on the structure of pay, it is hoped that the fixing of the value of the pay increase itself may be less problematic than if the ‘structure’ remained untouched. All of that, however, is the subject matter of the current negotiations.

For your further information, the first two days of negotiations ranged over detailed pay analysis and data requested by the Group of Unions and provided by the Bank. Quite a number of questions were raised with further data being sought and to be provided over the period prior to the parties meeting again.

Updating

Further updates will issue/if/as appropriate and as further information comes to hand.

Queries

In the meantime, further queries/questions can be raised via:

Ronan Murray, PTSB Senior Manager Employee Relations

Jean O’Dowd, Unite Official - through your appropriate Unite Representative

John O’Donnell, Mandate Official - through your appropriate Mandate Representative

Caitleen Desetti, FSU Official - through your appropriate FSU Representative

Caitleen Desetti

Industrial Relations Organiser

PTSB Union Committee: