Latest LTU News http://www.ltu.co.uk/index.php The latest news from Lloyds Trade Union. en-us Pension Discrimination Victory http://www.protectourpensions.co.uk/ltutest_site//blog-259-pension-discrimination-victory Common sense, and LTU’s threat of legal action for sex discrimination, has resulted in the Trustee of the Lloyds Bank Offshore Pension Scheme treating men and women the same when it comes to dealing with State Pension Deductions. It’s an unfortunate truth but it seems the Bank will only change its position on key issues when confronted with the law, if we’d been dealing with this issue through the negotiating process most members affected would have been dead before the policy was changed.

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Thu, 18 Jan 2018 09:29:12 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-259-pension-discrimination-victory
Pay Stagnation For 81% Of Staff http://www.protectourpensions.co.uk/ltutest_site//blog-258-pay-stagnation-for-81%-of-staff The 2018 pay pot is 2.5% compared to the current inflation rate of 3.9%. On the Bank’s own figures, that means up to 81% of staff are going to get pay increases less than the current rate of inflation. Pay stagnation for the vast majority of staff is set to continue for another year under the latest pay agreement reached with the Bank’s two favourite Unions - Accord and Unite.

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Thu, 11 Jan 2018 21:10:51 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-258-pay-stagnation-for-81%-of-staff
Entrapment Of LBG Staff http://www.protectourpensions.co.uk/ltutest_site//blog-257-entrapment-of-lbg-staff Is entrapment in the workplace – which may involve inciting, inducing, inveigling or luring members of staff to commit a potentially disciplinary offence - ever justifiable? We think in the case of phishing emails it could be the thin end of a very big wedge, especially when the Bank is seeking to move from educating to punishing staff more quickly than was previously the case. If nothing else, the ethical issues surrounding enatrapment are worthy of debate but it seems the two Bank approved Unions – Accord and Unite – have signed up to the new policy without saying anything about it at all. That’s assuming they were made aware of the changes to the policy in the first place.

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Wed, 10 Jan 2018 09:19:03 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-257-entrapment-of-lbg-staff
Letter To RT Hon Nicky Morgan MP – Lloyds Banking Group & The Reading http://www.protectourpensions.co.uk/ltutest_site//blog-256-letter-to-rt-hon-nicky-morgan-mp-–-lloyds-banking-group-the-reading

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Mon, 08 Jan 2018 14:56:20 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-256-letter-to-rt-hon-nicky-morgan-mp-–-lloyds-banking-group-the-reading
Holiday Pay: Campaign Update http://www.protectourpensions.co.uk/ltutest_site//blog-255-holiday-pay-campaign-update We’ve now started Early Conciliation for 426 claims for backdated holiday pay for Lloyds Bank staff. Early Conciliation is a process we have to go through before claims can be lodged with Employment Tribunals and is designed to allow claims to be settled without the need for legal action at the Tribunal. Early Conciliation is conducted by the Advisory, Conciliation and Arbitration Service (ACAS) and can last for up to 6 weeks.

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Tue, 02 Jan 2018 18:47:49 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-255-holiday-pay-campaign-update
Pension Discrimination Offshore http://www.protectourpensions.co.uk/ltutest_site//blog-254-pension-discrimination-offshore We end this year, like we started it, fighting for the rights of our members. There are some Unions, and I use that word loosely, who claim that compromise (usually couched in the language of pragmatism) will deliver improved terms and conditions for staff. It never does because it’s always the staff who have to compromise and that’s why ‘partnership agreements’ are worthless. Such agreements are inherently ambiguous because they give the impression of equality of power between the different parties. The reality is that the Bank will only change its position on key issues when forced to do so either by internal pressure from staff, external pressure from customers and regulators or legal challenges. And what’s happening in Offshore Banking is a classic of example of the Bank dragging its feet, members losing out and only the threat of legal action sorting the issue out.

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Wed, 20 Dec 2017 18:24:53 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-254-pension-discrimination-offshore
Holiday Pay: Accord Sinks To New Low http://www.protectourpensions.co.uk/ltutest_site//blog-253-holiday-pay-accord-sinks-to-new-low Today, Accord has announced a holiday pay compensation deal with TSB that amounts to a new low. It’s essential that staff in Lloyds are aware of what’s gone on in TSB because the deal that’s been struck shows Accord to be the Weak, Amateurish and Incompetent organisation that it really is. The union amounts to no more than a confidence trick being perpetrated on staff not only in TSB, but Lloyds too.

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Thu, 14 Dec 2017 23:58:43 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-253-holiday-pay-accord-sinks-to-new-low
Witch-hunt For The Lloyds 78 http://www.protectourpensions.co.uk/ltutest_site//blog-252-witch-hunt-for-the-lloyds-78 Completing the Bank’s ‘Building The Best Team Survey’ was supposed to be anonymous but that hasn’t stopped one Regional Director trying to find out the names of those members of staff who had the temerity to answer one of the questions honestly. It would seem that honesty is not the best policy in the Bank because anyone who answers survey questions ‘incorrectly’, i.e. honestly, will be hunted down and re-educated in the orthodoxies of Big Brother.

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Thu, 14 Dec 2017 10:43:41 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-252-witch-hunt-for-the-lloyds-78
Holiday Pay - Important Information For Members http://www.protectourpensions.co.uk/ltutest_site//blog-251-holiday-pay--important-information-for-members A Recap Of The Issue

The general principle underpinning holiday pay is that workers should receive the same pay while they are on annual leave as they normally receive while they are at work: there should be no deterrent from taking annual leave because income will fall.

The principle was confirmed in 2014, when the Employment Appeals Tribunal ruled that under the EU Working Time Directive, employers should be taking regular overtime into consideration when calculating pay during holidays.

Following Lloyds Banking Group’s apparent failure to calculate holiday pay in accordance with UK and European law (which means that some staff have been underpaid), Accord and Unite agreed the Bank’s proposal to compensate staff for 12 months missing pay.

However, under the Deduction from Wages (Limitation) Regulations 2014, a claim for deductions from wages for holiday pay can be made for a 2 year period, so many staff covered by Accord and Unite’s agreement will get only half of the money they’re entitled to receive.

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Mon, 11 Dec 2017 19:50:26 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-251-holiday-pay--important-information-for-members
The Dog That Never Barks http://www.protectourpensions.co.uk/ltutest_site//blog-250-the-dog-that-never-barks Members listening to the news over the last few days will have heard that the Institute for Fiscal Studies and the Resolution Foundation are predicting that average pay will not recover to its pre-crisis peak until 2025, 17 years after the pay squeeze began. Both of them go on to say the UK is on course for its longest fall in living standards since records began more than 60 years ago, with real incomes (which take into account inflation) now set to fall for 19 successive quarters.

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Sat, 02 Dec 2017 12:51:45 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-250-the-dog-that-never-barks
Letter To MPs – Bank Charges for Customers http://www.protectourpensions.co.uk/ltutest_site//blog-249-letter-to-mps-–-bank-charges-for-customers

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Sat, 02 Dec 2017 12:47:58 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-249-letter-to-mps-–-bank-charges-for-customers
Outsourcing To JLT http://www.protectourpensions.co.uk/ltutest_site//blog-248-outsourcing-to-jlt Lloyds Banking Group’s Insurance and Wealth Division has signed a £multi-million agreement with JLT Employee Benefits who will take over the administration of its Final Salary Products (mainly Scottish Widows and Clerical Medical) with effect from 30th April 2018. Unfortunately, this will not be the last TUPE transfer in Scottish Widows and Clerical Medical and we expect that there will be further announcements next year.

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Thu, 30 Nov 2017 20:18:09 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-248-outsourcing-to-jlt
Pay Stagnation In LBG http://www.protectourpensions.co.uk/ltutest_site//blog-247-pay-stagnation-in-lbg Since April 2017, most staff in Lloyds Banking Group have seen the value of their pay fall in real terms (taking into account inflation) by 1.7%. And if Accord and Unite have their way again, that pay stagnation will continue into 2018 and 2019. The Bank of England is projecting that the Consumer Prices Index (CPI), which is the Government’s preferred definition of inflation, will be at or around 2% in Q4 2020 but this statistic is seriously misleading.

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Thu, 09 Nov 2017 14:43:05 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-247-pay-stagnation-in-lbg
Letter to Mr Andrew Bailey - Lloyds Banking Group Overdraft Charges http://www.protectourpensions.co.uk/ltutest_site//blog-246-letter-to-mr-andrew-bailey--lloyds-banking-group-overdraft-charges

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Thu, 09 Nov 2017 14:09:58 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-246-letter-to-mr-andrew-bailey--lloyds-banking-group-overdraft-charges
Letter to Dr Andrea Coscelli - Lloyds Banking Group Overdraft Charges http://www.protectourpensions.co.uk/ltutest_site//blog-245-letter-to-dr-andrea-coscelli--lloyds-banking-group-overdraft-charges

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Thu, 09 Nov 2017 14:08:36 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-245-letter-to-dr-andrea-coscelli--lloyds-banking-group-overdraft-charges
Clearly, Charity Doesn’t Begin At Home! http://www.protectourpensions.co.uk/ltutest_site//blog-244-clearly-charity-doesn’t-begin-at-home You’ll have seen Lloyds’ extensive campaign on supporting customers with cancer:

“With you through difficult times”

“In it together”

“While your most immediate priority is coping with the challenges of the diagnosis, you may also find that there’s an impact on your finances. We can help.”

Unfortunately that support hasn’t been extended to one individual who works for Lloyds Bank, who at 20 years of age was diagnosed with a benign brain tumour earlier this year.

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Tue, 07 Nov 2017 22:18:32 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-244-clearly-charity-doesn’t-begin-at-home
Heritage Lloyds Bank Severance Terms – Second Letter http://www.protectourpensions.co.uk/ltutest_site//blog-243-heritage-lloyds-bank-severance-terms-– second-letter

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Tue, 07 Nov 2017 21:54:11 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-243-heritage-lloyds-bank-severance-terms-– second-letter
Accord and Unite – Overtime Pay Sell-Out http://www.protectourpensions.co.uk/ltutest_site//blog-242-accord-and-unite-–-overtime-pay-sell-out Last week we wrote to members (to see last week’s newsletter please go click here) to highlight Lloyds Banking Group’s apparent failure to calculate holiday pay in accordance with requirements under European law, which means that some staff have almost certainly been underpaid.

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Tue, 31 Oct 2017 21:09:09 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-242-accord-and-unite-–-overtime-pay-sell-out
Balanced Scorecard – Still Developing! http://www.protectourpensions.co.uk/ltutest_site//blog-241-balanced-scorecard-–-still-developing Probably no other area of personnel management is as guaranteed to produce discontent as appraisal or Balanced Scorecard (BSC). It’s no wonder that many smaller organisations have chosen to have no formal appraisal systems.

Staff who are given adverse performance ratings are often bitterly aggrieved to find their efforts have been condemned whilst many of those who fail to get superior performance ratings feel unappreciated. For managers who barely have the time to operate complex systems within pre-determined budgets, it can look like a ‘lose-lose’ situation.

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Tue, 31 Oct 2017 17:53:56 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-241-balanced-scorecard-–-still-developing
Rhyming History? http://www.protectourpensions.co.uk/ltutest_site//blog-240-rhyming-history? This week the Bank will publish details of the latest group of branches due to be closed as part of the branch closure programme announced following the last Strategic Review. Unfortunately, these will not be the last branches that are going to be closed in Lloyds Banking Group. The Bank will also announce a further round of redundancies and reorganisations and many staff will find themselves, yet again, having to apply for their own jobs in the run up to Christmas. Interestingly, in the hagiographic piece of journalism that appeared in the Times recently (see LTU’s recent Newsletter on Mental Health at http://ltu.co.uk/newsletters/allmembers/am-18-10-17.pdf), Mr Horta-Osorio referred to his anxiety and sleepless nights and the support he got from the Bank. The question is why the anxiety and sleepless nights of staff having to apply for their own jobs again is not recognised by the Bank? Once the details of the Bank’s plans are published we will write to the members affected offering advice and guidance.

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Mon, 30 Oct 2017 20:35:05 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-240-rhyming-history?
Holiday Pay - Are You Receiving Your Entitlement? http://www.protectourpensions.co.uk/ltutest_site//blog-239-holiday-pay--are-you-receiving-your-entitlement? The general principle underpinning holiday pay is that workers should receive the same pay while they are on annual leave as they normally receive while they are at work: there should be no deterrent from taking annual leave because income will fall.

This principle is derived from European law and applies to the first 4 weeks of annual leave which are covered by the EU Working Time Directive.

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Thu, 26 Oct 2017 07:41:22 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-239-holiday-pay--are-you-receiving-your-entitlement?
Inflation, Pay and Productivity http://www.protectourpensions.co.uk/ltutest_site//blog-238-inflation-pay-and-productivity Today, the Bank announced an underlying profit for the nine months of £6.8 billion, 8% higher than the previous year. Statutory profit after tax increased by 50% from £2,076 million to £3,109 million. Costs were lower over the same period and whichever way you look at it, those staff that are left in the Group are increasingly more productive. Unlike the UK economy generally, employee productivity in Lloyds Banking Group has improved continuously over the last few years but that hasn’t been matched when it comes to salary increases over the same period.

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Wed, 25 Oct 2017 16:58:28 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-238-inflation-pay-and-productivity
Mental Health In Lloyds - Who Cares? http://www.protectourpensions.co.uk/ltutest_site//blog-237-mental-health-in-lloyds--who-cares? You’ll no doubt have seen that it was World Mental Health Day last Tuesday: an opportunity for us all to focus on the importance of mental health issues at work.

Mental Health as a CEO

Horta-Osório made his contribution by giving The Times newspaper an apparently very open account of his own mental health struggles in 2011 (when he was admitted to The Priory for insomnia), in which he said “I was very close to breaking”.

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Wed, 18 Oct 2017 21:41:04 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-237-mental-health-in-lloyds--who-cares?
Tipping Point http://www.protectourpensions.co.uk/ltutest_site//blog-236-tipping-point The Bank will announce shortly that it’s extending the enhanced severance terms. The HR financed in-house staff unions will claim this is an example of positive engagement and that “only by having a seat at the table” can you influence the Bank’s actions. It’s nothing of the sort. The legal position is such that the enhanced severance terms are contractual for Lloyds staff and don’t need to be extended because there is no expiration date in the first place. Lloyds staff are entitled to those enhanced terms indefinitely and if the Bank ever attempted to walk away from its obligations then it would face legal action in the High Court immediately: that would be action, it knows it would lose.

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Tue, 10 Oct 2017 18:18:49 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-236-tipping-point
Lloyds Banking Group’s New Bank Charges http://www.protectourpensions.co.uk/ltutest_site//blog-235-lloyds-banking-group’s-new-bank-charges

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Thu, 05 Oct 2017 18:26:16 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-235-lloyds-banking-group’s-new-bank-charges
Severance Terms & Diligenta http://www.protectourpensions.co.uk/ltutest_site//blog-234-severance-terms-diligenta Unite said the outsourcing of 1,050 jobs to Diligenta was a “betrayal” of Lloyds staff but isn’t their ‘partnership agreement’ with the Bank supposed to stop this happening. What is the point of such an agreement if the Bank simply ignores what a Union says and proceeds to walk all over its members. The Bank recently said of Accord and Unite “The role they play makes an important contribution to the future success of the group…….”. Is allowing 1,050 jobs to go to Diligenta “contributing to the success of the group”?

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Thu, 05 Oct 2017 13:14:27 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-234-severance-terms-diligenta
Sarah Underhill Letter – Severance Terms & Diligenta http://www.protectourpensions.co.uk/ltutest_site//blog-233-sarah-underhill-letter-–-severance-terms-diligenta

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Thu, 05 Oct 2017 13:11:29 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-233-sarah-underhill-letter-–-severance-terms-diligenta
Outsourcing To Diligenta http://www.protectourpensions.co.uk/ltutest_site//blog-232-outsourcing-to-diligenta Lloyds Banking Group’s Insurance and Wealth Division has signed a £multi-million agreement with Diligenta who will take over the administration of its closed-book life and pensions business (mainly Scottish Widows and Clerical Medical) with effect from early next year.

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Tue, 26 Sep 2017 11:43:32 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-232-outsourcing-to-diligenta
Letter To MPs – Bank Charges for Customers http://www.protectourpensions.co.uk/ltutest_site//blog-231-letter-to-mps-–-bank-charges-for-customers

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Tue, 19 Sep 2017 15:06:56 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-231-letter-to-mps-–-bank-charges-for-customers
Project 2020 http://www.protectourpensions.co.uk/ltutest_site//blog-230-project-2020 Lloyds Banking Group (LBG) is planning to merge the management structures of its two main brands – Halifax and Lloyds Bank - as part of its next three-year strategic review. Management spans of control will increase and the newly appointed Local Directors will be expected to manage branches across both brands. This restructuring was due to be announced a few weeks ago but was pulled at the last minute. The management teams and support staff that manage the two brands currently will go through a desk top selection exercise, which many of them have been through on countless occasions before. This reorganisation of the two branch networks will result in at least hundreds redundancies from management and support staff.

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Mon, 04 Sep 2017 17:40:18 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-230-project-2020