PTSB - Pay Update

A pay update for all union members has now been posted on WorkVivo. It says:

BANK & GROUP OF UNIONS PAY NEGOTIATIONS

Update #1

Please find below a joint update on pay negotiations on behalf of the Bank and PTSB’s group of unions—Unite, Mandate, and the FSU.

The Unions and the Bank, facilitated by an independent Mediator, have agreed:

• To implement changes to the 2024 pay matrix as recommended by the Labour Court
• To appoint an independent Arbitrator who will make a final determination regarding the value of a once-off voucher to be paid to Levels 6-3
• A new ‘Ways of Working Protocol’ between the Bank and three Unions
• To commence Pay 2025 negotiations

Pay 2024

The Bank’s offer to resolve outstanding Pay 2024 matters was accepted by the three Unions in April.

This deal includes implementation of the Labour Court’s 2024 recommendation to apply 50% of the 4.7% pay increase to the rate of pay and the remaining 50% to the Performance Related Pay mechanism.

As part of this deal, a once-off voucher will be paid to workers at Levels 6-3. The three Unions and the Bank are completing discussions for the appointment of an independent Arbitrator, who will make a determination in their differences of opinion as to the final value of the voucher to be issued.

Once the Arbitrator has been appointed, a date for the arbitration hearing will be set to hear arguments/opinions from the parties. It is anticipated that this date should be set before the end of W/C 12.05.25.

This is a single-issue, relatively uncomplicated case, and the issuing of the Arbitrator’s Decision could be expected to follow shortly thereafter.

The New Protocol for Collective Bargaining

A new ‘Ways of Working Protocol’ has been agreed between the Bank and the three Unions. This protocol will provide a framework for collective bargaining matters (e.g. annual pay negotiations, benefits, job security, working conditions, etc.) for colleagues from Level 3 to Level 6.

Following the adoption of the Protocol, the Bank and Unions are required to appoint an independent Adjudicator to have some oversight of the future conduct of collective bargaining negotiations within the Bank. These discussions are at an advanced stage and should also be concluded by the end of W/C 12.05.25.

Pay 2025

Work is underway/in hand to resolve the minor issues accompanying the Pay 2025 agenda. Talks proper, on the more major issues, i.e. pay structure, the Pay 2025 increases and the issue of variable pay, are scheduled to commence on the following dates in May: 13th/14th with further dates being finalised at a later date.

Updating

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

John O’Donnell, Mandate Official

Caitleen Desetti, FSU Official

Caitleen Desetti

Industrial Relations Organiser

FSU PTSB Union Committee: