Santander pay deal accepted

91 per cent support Santander UK pay deal

1st March 2012

CWU members in Santander UK have voted by 91 per cent to endorse a pay deal worth 2.7 per cent for successful performers at the mid-point of the pay ranges, with the lower paid in each grade receiving higher increases.
  Under the terms of the agreement members will receive pay increases from 1st March of between 0 per cent and 3.8 per cent dependent on performance and position in the pay ranges. Allowances will rise 2.5 per cent. Due to the structure of the deal the lower paid will receive higher increases and pay rises will be underpinned by minimum increases of between £200 and£400.
  The deal also includes arrangements to simplify the national pay ranges which uplifts 90 per cent of pay scales, and gives those on protected rights increases of 2 per cent plus a cash payment.

Commenting on the result, CWU assistant secretaryNigel Cotgrove said: "Given the difficult climate in the banking sector the deal was the best that could be achieved through negotiation, and is better than those at the other main UK Banks. I am pleased that our members have endorsed the agreement overwhelmingly."
  The CWU represents staff in retail, commercial, corporate, customer service and support roles in Santander UK. CWU members voted by more than 9 to 1 in favour of the pay offer in a consultative ballot which closed on Friday 24 February 2012.