FSU welcomes announcement of 7 weeks fully paid Parent’s Leave in Bank of Ireland

15 February 2023

The Financial Services Union (FSU) has welcomed an agreement reached with Bank of Ireland to introduce 7 weeks fully paid Parent’s Leave for all staff.

Currently Parent’s Leave entitles each parent to seven weeks’ leave during the first two years of a child’s life, or in the case of adoption, within two years of the placement of the child with the family. Parent’s Benefit is paid by the state at a rate of €262 per week.

Under the terms of the new agreement Parent’s Benefit will now be topped up to full pay by Bank of Ireland. The start date for the entitlement to full pay is 1 January 2023.

Commenting on the announcement Caitleen Desetti, Industrial Relations Organiser with the FSU said:

“We are delighted to reach agreement with Bank of Ireland on the introduction of seven weeks fully paid Parent’s Leave for all staff.

This is a very welcome initiative taken by the bank and is the culmination of many years of campaigning by the FSU.

7 weeks fully paid Parent’s Leave will make a big difference to new parents, and it means they can spend more time at home with their young children without worrying about their earnings being impacted.

The FSU will continue to campaign for the best possible family leave arrangements across the banking sector. In the long-term, better family leave and flexible working arrangements encourage greater equality in the workplace as well as at home”.