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Manager Latest News
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Date: 3rd Dec 2009
LTU has rejected the Bank’s new harmonised terms and conditions of employment.
When the LTSB/HBOS deal was announced we said the Union’s role was to protect the interests of our members and ensure that they were not hurt in the rush to extract the maximum out of the takeover.
If these proposals are implemented then staff and their families will be hurt, not just now, but for the rest of their lives. There is no Trade Union which could ever contemplate signing up to an agreement which cuts to shreds its members terms and conditions of employment. LTU will not do that.
The Group’s proposals are as follows:
- Through the issuing of new contracts the Bank will limit pensionable pay increases each year to 2%, or inflation if less, or your pay increase whichever is the lowest with effect from April 2010. In future pay rises will only be paid to members of staff on the understanding that they accept that part of the increase will be non-pensionable.
- To introduce a new money purchase pension scheme for existing staff in 2011. Existing scheme members will be able to carry on contributing 2%, which is what most of them pay at the moment, but if they do the contributions from the Bank will be reduced significantly.
- Withdraw protected family health insurance from 3,000 LTSB Managers with effect from 1st January 2011.
- Reduce overtime rates for 41,265 staff in Bands 6-8 through the use of a new working window of 8am to 8pm Monday to Saturday.
- Limit the protection of the Lloyds TSB mobility clause when it comes to determining where staff can work.
- Withdraw status cars for Managers who do less than 12,000 business miles per year and make them take a cash allowance instead.
- Reduce sick pay entitlement for staff with less than 4 years service.
- Withdraw life event leave, the holiday banking scheme and out of season holidays from implementation of the new terms and conditions.
- Remove the Health Screening benefit for Managers in Bands 2-4 from 1st January 2011.
LTU will be balloting members in the next few weeks on the Bank’s proposals with a clear recommendation from the Union’s General Council that they should be rejected.
A full analysis of the Bank's proposals can be found in our Newsletter section.
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