FSU to ballot members on proposed 7% pay increase in Ulster Bank

FSU to ballot members on proposed 7% pay increase in Ulster Bank

The Financial Services Union and Ulster Bank have concluded negotiations on a pay deal for 2023 which includes a proposed 7% increase for the mid-point on pay range.

The proposed deal also includes a cost-of-living payment of €1,150/£1,000 for all Grade A, B and C staff to be paid in January 2023.

Commenting on the proposed deal Gareth Murphy, Head of Industrial Relations and Campaigns with the FSU said:

“The FSU and Ulster Bank have been in intense pay talks for the last number of months. Those talks have now produced a comprehensive set of proposal which we believe is a positive outcome for our members.

This pay deal supplements deals already agreed with Ulster Bank which included a 4% pay increase in April 2022, and a 4% cost of living pay increase in September 2022 for those under €45,300/£32,000 FTE.

If accepted this deal will deliver a mid-point pay increase of 7% to our members in April 2023 and a cost-of-living payment of €1,150/£1,000 for all Grade A, B and C staff to be paid in January 2023.

The FSU are recommending acceptance of the deal but ultimately it will be up to the members to decide. These proposals demonstrate the strength of union membership and the importance of having democracy in the workplace. More workers are beginning to unionise, and we believe this is great for fairness and equality in society.

Our members in Ulster Bank have worked tirelessly in very challenging circumstances providing a professional customer orientated service. They deserve to be properly rewarded for their work and this deal combined with other agreements provides some financial reward to support them with the rising cost of living.

A ballot of our members in Ulster Bank will open on Monday 5^th December 2022 at 9.15 a.m. and close on Friday 16^th December 2022 at 4 p.m.”

ENDS