Financial Services Union tells Ulster Bank No Unilateral Action on Pay Ranges in ROI

Issued : 11 January 2017

Members to Ballot on Recommendation from Mediator

The Financial Services Union and Ulster Bank have been in challenging pay talks for the last number of months which have culminated in a recommendation from independent mediator Mr Kieran Mulvey.

Within the context of the Ulster Bank pay structure Mr Mulvey has recommended a pay matrix which should deliver on average an increase in the region of 2% for staff. But significantly FSU has secured that more staff will be included in the pay structure and eligible for either an increase or a non-consolidated cash payment.

However, the more contentious issue of ranges has left a gap between the parties. Mr Mulvey has not recommended the Bank’s proposed new ranges which FSU has strongly rejected. Instead, he has recommended further discussions between the parties on this issue.

FSU Senior Official, Gareth Murphy, stated, ‘The increased pay matrix represents a significant improvement on the original position of the Bank and warrants a ballot of members. However, we are saying to the Bank very clearly do not act unilaterally. The mediator did not recommend new ranges and has recommended further talks. Let’s engage in these discussions with open minds and not with the threat of imposition of ranges not agreed or recommended. The message from our members is that any unilateral action from the Bank risks a serious dispute.”

General Secretary of FSU, Larry Broderick, further added, ‘The staff in Ulster Bank have made a massive contribution to the sustained recovery of the Bank now paying €1.5 billion in dividends to RBS. We do not see any sound justification for cutting ranges, and to a level completely out of sync with the sector. Now is the time for the Bank to encourage and reward staff in a reasonable way to continue to rebuild this Bank for its customers and the economy more generally.’

‘This is an important year for staff and customers in Ulster Bank. The bank has indicated that it wants to enter discussions on its future plans. This is likely to present a challenging agenda for staff and customers. Against that background I would expect the Bank to avoid unilateral action by imposing new ranges, not recommended by Mr. Mulvey.”

FSU will commence a ballot of members on the recommendation from next week. ulster_bank_sc