Pay rise for Bank of Ireland staff

Business Editor

Bank of Ireland has agreed to a 1.75% pay rise for staff effective from July 1, 2014, and another 2% rise from January 1 next year.

“Employees will transition to the new framework on 1 December 2014 and this transition will incorporate the payment of a once off non-pensionable transitional payment of 5% of current salary, partially in consideration of transition to the new framework and acknowledgement that it replaces all existing frameworks and pay systems,” the bank said in a communique to staff yesterday. The pay rise does not include chief executive Richie Boucher or the executive team.