4% Pay Increase for 2025 and New Pay System - PTSB
23 June 2025
The Group of Unions has negotiated a 4% pay increase for 2025 and a new Pay System in PTSB going forward.
The new Pay System is a fundamental change in PTSB that will make pay increases simpler, more transparent, and more equitable long into the future.
What is included in the Pay Deal?
- Starting in 2025, the Bank’s annual budget for pay increases will be divided evenly between two pots – the ‘General Increase’ pot (Pot 1) and the ‘Performance’ pot (Pot 2). This arrangement is a much simpler and more transparent system than the former pay matrix.
- The Bank’s budget, negotiated with the Trade Unions, for increases in pay for 2025 is 4% -- that is 2% for Pot 1 and 2% for Pot 2. These increases will be backdated to 1 January 2025.
- The Minimum Pay level in Grade A (currently Level 5) will be increased from €27,500 to €29,580.
- The Minimum Pay levels for Grades B and C (currently levels 4 and 3) will be increased by the Pot 1 2%.
- The Maximum Pay levels for Grades A, B, and C will be increased by 6% as a special adjustment.
- The Bank and the Group of Unions will commence a fundamental root and branch ‘reset’ of the Performance Evaluation System in July 2025.
The 2025 Pay Deal will result in the following pay increases, with effect from 1 January 2025:
Performance Rating | Pot 1: General Increase | Plus | Pot 2: Performance increase | Total |
1 | 2% | 3% | 5.0% | |
2 | 2.5% | 4.5% | ||
3 | 2% | 4.0% | ||
4 | 1% | 3.0% | ||
5 | 0% | 2.0% |
The 2025 pay proposals will result in the following new minimum and maximum pay for Grades A, B, and C:
Grade | C (Level 3) |
Min | €65,280 (2% increase) |
Max | €101,760 (6% increase) |
Grade | B (Level 4) | |||||
Name | Bank | O24 | BKLE | ITP2 | ITP3 | ITP4 |
Min | €37,740 (2% increase) | €37,740 (2% increase) | €48,960 (2% increase) | €35,700 (2% increase) | €35,700 (2% increase) | €50,184 (2% increase) |
Max | €64,660 (6% increase) | €64,660 (6% increase) | €76,320 (6% increase) | €50,880 (6% increase) | €75,366 (6% increase) | €83,740 (6% increase) |
Grade | A (Level 5) | ||
Name | Bank | O24 | ITP1 |
Min | €29,580 (7.5% increase) | €29,580 (7.5% increase) | €29,580 (7.5% increase) |
Max | €49,820 (6% increase) | €49,820 (6% increase) | €44,520 (6% increase) |
All members are entitled to a copy of the full Mediator’s Report which sets out all the changes/improvements in the PTSB system of pay. Contact your FSU rep or email info@fsunion.org with the subject line “PTSB Pay Mediator’s Report”.
What happens next?
FSU is holding two more members meetings this week to talk to you about the deal and answer your questions. These two meetings are open to all FSU members and all non-union members.
Click here to register for the Tuesday 4pm meeting.
Click here to register for the Wednesday 10am meeting.
All FSU members will receive a ballot on Friday 27 June to cast their vote. The choice is in your hands.
Our union committee believes the new pay system is a big step forward in terms of transparency, simplicity, and equity, and that the pay increase for 2025 is a positive one in line with industry standards.
We recommend the ballot for acceptance.
If any of your colleagues are not union members, please ask them to join. A stronger union gives us more power to fight for better pay and working conditions throughout the year. Joining the union could not be easier—click on the link here: www.fsunion.org/join
Remember, for every new member that you recruit, you will receive a €50 One4All voucher—just complete the “recruited by” section in the form.
Caitleen Desetti
Industrial Relations Organiser