Newsletters From BTU
Redundancy Terms Reduced By 50%
Lloyds has introduced a new policy which allows it to reduce redundancy payments by 50% if members of staff refuse to accept a ‘reasonable alternative role or reskilling opportunity’. The so called ‘reasonable role alternative’ test is going to be key for the vast...
Review Of Pensions
As we said in our last email the Trustee of the LBG pension schemes must act in the best interests of scheme members. Many pensioner members are struggling to cope with the cost of living crisis and that’s only going to get worse over the next few months. The Retail...
Culture Wars In Lloyds
Members will recall that in one of our previous Newsletters we discussed in detail the bank’s new retail strategy. Whilst the new value treatment strategies are all very interesting, our concern is about how the rush for growth is going to change the culture of the...
What About Lara?
It took members of staff 20 minutes to evacuate the Lloyds building at London Wall following a fire alarm on the 12th January. That’s simply too long. If it had been a real fire, the consequences of such a delay don’t bear thinking about. A few weeks ago, Lloyds...
Does Your Employer Know You’re Disabled?
A recent case heard at the Employment Appeals Tribunal (EAT) has highlighted the importance of disabled employees informing their employers of their disabilities. The Equality Act 2010 says that people are disabled if they have a physical or mental impairment which...
BTU Secures Top-Up Payments Worth £63 million
The Trustee of the Lloyds Banking Group Pension Schemes has said for the first time that it’s going to make top-up payments to those members who transferred out of their final pension schemes. It will start making those payments later this year. We estimate that £63...
Intolerable Working Conditions In The Branch Network
Lloyds Bank’s decision to cut staffing in the branch network to the bone is causing serious concerns over branch security and intolerably high pressure working environments. It would not be sensible for us to set out the alarming examples that have been reported to us...
Data, Value & Sales – The New Strategy For Retail Banking
Lloyds Banking Group has been heavily criticised in the press recently for its proposal to offer 10.4 million active customers a reduced level of service because they don’t produce any value for the bank. According to the bank these customers will get the ‘Align cost...
Black Clouds in IT?
Lloyds Banking Group is going to reduce the number of data centres from 16 to 12 sites over the next two years as more of its processes, transactions and applications are moved on to the public cloud. We think the number will be reduced by a further 50% by 2026. 56...
Transfer Pensions – Update
At the end of October, we wrote to hundreds of members who had transferred their pensions out of one of the Lloyds Banking Group final salary pension scheme providing them with a standard letter to send to the Trustee. That letter said: “I have enclosed details of...
BTU Newsletters
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