Lloyds Banking Group staff are represented by an independent trade union committed to protecting their interests and their interests alone. LTU is not affiliated to the TUC or any political party and we are free to determine and pursue the best policies for Lloyds Banking Group staff.

LTU represents members in Lloyds, Scottish Widows, Halifax, BOS and the other companies within the Lloyds Banking Group.


Lloyds Chooses Dividends Over Pensions

08 Mar 2018

It seems that Antonio Horta-Osorio’s “Culture of Austerity”, which he referred to in his recent discussions with analysts, now extends to deficit contribution payments to the Group’s main defined benefit pension schemes. 

Last week the Group announced that: “Terms have now been agreed in principle with the Trustee in respect of the valuations of the Group’s three main defined benefit pension schemes. The valuations showed an aggregate ongoing funding deficit of £7.3bn as at 31 Dec 2016 (£5.2 billion deficit at 30th June 2014)”.

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