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Pay 2024 & 2025
This was a unique offer marking the first 2-year pay deal we have seen from Lloyds Banking Group. Your Unite negotiators pushed the bank hard and combined with your collective power, were able to reach a final offer we feel provided significant value and pay certainty for the next 2 years, enabling colleagues to effectively plan their finances across a longer period.
Unite have reviewed the offer and given that analysts expect economic conditions to improve steadily in 2024 and 2025, it means the combined 2-year deal is a significant investment in pay and could present good value if predictions are accurate.
Unite recommended members accept the 2024 & 2025 pay offer and members supported this position with the majority accepting the offer.
This was a unique offer marking the first 2-year pay deal we have seen from Lloyds Banking Group. Your Unite negotiators pushed the bank hard and combined with your collective power, were able to reach a final offer we feel provided significant value and pay certainty for the next 2 years, enabling colleagues to effectively plan their finances across a longer period.
Unite have reviewed the offer and given that analysts expect economic conditions to improve steadily in 2024 and 2025, it means the combined 2-year deal is a significant investment in pay and could present good value if predictions are accurate.
Unite recommended members accept the 2024 & 2025 pay offer and members supported this position with the majority accepting the offer.
Unite members voted by a narrow margin to reject the 2022 pay offer.
What does this mean?
• Unite entered into dispute with Lloyds Banking Group.
• Given the cost-of-living concerns Unite did not propose the bank halt pay awards whilst they entered what would be anticipated to be a lengthy process.
• Unite have called for a fundamental review of the Pay & Reward system as a whole to address the varied concerns of the membership.
• Unite launched a campaign to push for further financial support during the cost of living crisis as the pay offer did not go far enough.
• Unite secured a cost of living payment lower graded staff sparking a domino effect across the banking sector.
