Financial Services Union agree enhanced pay deal with Danske Bank.

The Financial Services Union and Danske Bank have reached agreement on an enhanced pay deal for Bank staff for 2022.

In 2020 the Union balloted its members on a comprehensive deal which included amongst other items no compulsory redundancies and a three year pay deal. As part of that deal a 2.5% pay increase was agreed for 2022.

However, with real increases in the cost of living, negotiations restarted late last year on a possible enhancement of the deal.

Agreement has now been reached between the Union and Danske Bank on an increase of 3.5% for this year which is an increase of 1% from the previous position agreed in the three-year deal.

In addition, there will be a once off non-consolidated cash payment of £500. The increase will be effective from 1 April 2022.

Commenting on the deal Mandy La Combre, Senior Industrial Relations officer with the Financial Services Union said:

“The FSU have argued for inflation proofed pay increases since our Conference in Belfast last November. Pay increases play a significant role in protecting workers from rising costs of essential everyday items such as foods and home heating. We are set to face the toughest cost of living squeeze in many years as bills soar.

This pay increase is also a recognition of the professional work carried out by our members during Covid in keeping branches open and providing a customer friendly service in difficult circumstances. We commend the bank for agreeing to revisit the previous agreement and for acknowledging that their staff deserved more”.

The increase will be effective from 1 April 2022.

ENDS