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.

“The new framework includes the introduction of a more streamlined and standardised organisational design for the Bank of Ireland Group. It replaces all existing frameworks and includes a move to new pay models. Details of the new framework will be communicated to all employees in the coming days,” the bank said


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