Sep 24, 2020 | All Members, COVID-19, Pay
The Bank has been warning staff that there will be little or no payments made through the Group Performance Share for 2020. In a message to staff earlier in the year, the bank said: “As you will have seen in the news, the impact of the coronavirus outbreak is expected...
Feb 28, 2020 | All Members, Pay
The Group Performance Scheme (GPS) pool was reduced from £464.5 million in 2018 to £310.1 million in 2019, a 33% reduction. The main reason for the reduction was PPI claims but other significant conduct risk issues, including the Cranston Review and the ongoing sore...
Jan 8, 2020 | All Members, Pay
Unless the new grading and reward structure to be announced later this year deals with the issue of progression, staff will continue to be undervalued relative to the market place. And the issue of progression will become more important with the contraction of grades...
Dec 10, 2019 | All Members, Pay
The 2020 pay pot is 2.4% compared to 2.6% last year. However, the Office for Budget Responsibility, which provides independent and authoritative analysis of the UK Public finances, is predicting that when pay becomes effective in April 2020, retail price index (RPI)...
