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21st May 2010 - Special General Meetings Update

Hundreds of Workplace Reps have attended Special General Meetings around the UK to discuss the Union’s ongoing negotiations with the Bank. 

General Secretary Ged Nichols hosted the events, giving as much information as he was able to about the latest situation regarding Terms and Conditions, pay and pensions. He also described the process for voting in the forthcoming 2nd ballot.

Many Reps asked Ged about the latest negotiations, keen to know if the Bank has improved its previous proposal.

He told them: “We’ve been talking long and hard with the Bank and it’s now revised the proposed Terms and Conditions.  We expect staff will be given the details on Wednesday 26 May.  The information’s embargoed until then so I can’t pre-empt what the Bank will say.  However, I can say that there’s been progress in several areas that our members were previously unhappy about.”

There was also discussion about the imposed pay 2010 deal and the changes to the final salary pension schemes.

“The 2nd ballot will be held shortly and will ask members for their acceptance or rejection of the revised Terms and Conditions as well as pay and pensions.  I urge everyone to vote – whatever their views,” said Ged.

He was asked a wide range of questions at each SGM.  Reps particularly wanted to know about changes to pension schemes; overtime; pay scales; the Partnership Agreement;  caps on bonuses; the 4% Flex pot; cars; flexible retirement; holidays (and the shopping day) and sick pay. 

Meetings have already been held in Edinburgh (Tuesday 18th May), Leeds (Wednesday 19th) and Manchester (Thursday 20th).  Further meetings will be held in Birmingham (25th), London (26th) and Bristol (27th).

In addition, Ged will be available to visit large sites during the period the ballot is open (28 May – 14 June) to talk to members, answer questions and urge everyone to vote.

“We want as many as possible to vote in this important 2nd ballot,” stressed Ged.

 

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