FSU members in PTSB vote in favour pay deal

03 May 2024

4.7% pay increase  agreed for 2024.

Financial Services Union (FSU) members in PTSB have today voted to accept a pay deal worth 4.7% which be backdated for payment to January 2024.

The FSU which has a collective bargaining agreement for staff and managers with PTSB had recommended the deal after months of negotiations which included conciliation at the Workplace  Relations Commission. (WRC)

The main points of the deal are :

  • A pay increase of 4.7% to be paid to staff of PTSB in line with the pay matrix in a one-year deal to cover 2024 only.
  • The pay increase to cover all Level 5, 4 and 3 grades. 
  • The increase to be backdated to 1 January 2024. 
  • A joint review of the Pay-Band Review scheme to be completed before the end of 2024.

Speaking after the pay ballot closed Shaleen Martin, Industrial Relations Organiser with the FSU said:

“ Negotiations, involving three unions have being ongoing for a number of months with PTSB. 

After intense negotiations  where agreement was not reached, we were able to settle on a deal with help from facilitators in the WRC. 

The deal gives some certainty to our members on pay for 2024 and importantly involves a review of the pay band scheme which  is required to be completed by the end of 2024.”