Jul 25, 2022 | All Members, Pay
TSB has announced today that staff in grades B-D will be getting a £1000 cost of living bonus following our successful campaign. £500 will be paid in October and £500 will be paid in February 2023. In June we said: “TSB should follow the lead of Lloyds Banking Group...
Jul 25, 2022 | All Members, Pay
Virgin Money is the latest company to offer its staff a cost of living bonus. Staff who earn £50,000 a year or less will get a one-off payment of £1000 next month to: “cushion the impact of the cost of living crisis”. 78% of Virgin Money staff will get the bonus in...
Jun 24, 2022 | All Members, Pay, Pensions
TSB should follow the lead of Lloyds Banking Group and Rolls Royce and give all its staff a cost of living bonus. Lloyds staff will be getting their £1,000 bonus in August; Rolls Royce staff will also be getting their £2,000 cost of living bonus in August. TSB’s 2022...
Jan 28, 2022 | All Members, Pay
The 2022 pay pot, the amount of money the bank spends on pay, is just 4% compared to the current inflation rate of 7.5%, which is the highest it’s been since April 1991. And let’s be honest, that inflation figure is likely to get higher over the next few months. On...
Jan 10, 2022 | All Members, Pay
In a report published on the 29th December, the Resolution Foundation, a well-respected think-tank focused on improving the living standards for those on low to middle incomes said that 2022 would be the “year of the squeeze” on people’s finances. In its quarterly...
Nov 2, 2021 | All Members, Pay
Inflation matters because higher prices eat into incomes and if incomes don’t grow to match prices, then living standards will fall. The Office for Budget responsibility (OBR), which provides independent and authoritative analysis of the UK’s public...
