Corporate Property Pay Ballot Open

Wednesday, January 30th, 2013

The ballot for the Corporate Property 2013 pay deal is now open.  Corporate Property is the smallest of the Prudential bargaining units.

The members are voting on a 3% pay offer and the ballot remains open until midday on February 6th.

Steve O’Donnell, Senior Rep stated that “We are pleased to have secured an offer of 3%, equivalent to December RPI figure. We believe that a 3% merit pot will be competitive when compared to pay settlements for other finance companies in this years pay round”. 

Steve continued “We are also pleased that despite being the smallest bargaining unit and being under significant pressure to cut costs, Corporate Property’s offer is in line with the other Prudential Business Units.”

The Prudential NCC are recommending members accept the offer.

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PGDS Pay Ballot Open

Monday, January 28th, 2013

PGDS members are voting on a 3% pay deal.

The ballot remains open until midday on February 4th.

Steve O’Donnell, Senior Rep stated that “We are pleased to have secured an offer of 3%, equivalent to December RPI figure. We believe that a 3% merit pot will be competitive when compared to pay settlements for other finance companies in this years pay round.”

The negotiating team (Steve O’Donnell, Wendy Wilson and Jim Samson) are recommending members accept the offer.

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UKIO Pay Ballot Result

Monday, January 21st, 2013

UKIO members have voted in favour of the 2013 pay deal. 

The result was as follows:

For 96%
Against 4%

Turnout 32%

The deal, outlined below, will be effective from 1st April 2013.

2013 UKIO Pay Deal

• 3% merit pot for Grades 1 – 3
• Minimum FTE Income of £15,600 (equivalent of London Living Wage)
• Maternity/Adoption Pay to be reviewed in Q1 2013
• Review of those employees beneath 80% of market by end of Q2
• Agreement to review the possibility to process the tax free element (£208) of the homeworkers allowance through payroll
• Season Ticket Loan facility to be extended immediately to include annual car parking

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UKIO Pay Claim

Wednesday, December 12th, 2012

UKIO Pay Claim

Following a series of meetings with members in London, Reading and Craigforth Unite submitted the UKIO 2013 pay claim on Friday 16th November. The claim is based on what you, our members, told us you wanted to see in the claim. This is obviously the Unite starting position. Negotiations with the business begin this week and are likely to continue through December. We hope to get to a position which will enable us to come back to members with a recommendation to accept an offer from the Company in a pay ballot.

The key elements of the claim are:-

• Across the board RPI + 1% increase (4.2%) for all employees

• Additional 1% merit pot for High Performers

• Minimum FTE salary to equal the 2012 Minimum Income Standard £16,400

The main rationale for the claim is that many of our members over the past couple of years have seen a reduction in their purchasing power as pay settlements have been below the rate of RPI. This is contrast to the Company’s performance which has seen profits and its share dividend increase at a far higher percentage rate than wages.

In 2010, RPI was 4.6%, the merit pot was 2.75%. In 2011, RPI was 5.2%, the merit pot was 3%. An average earner is therefore approximately 3.97% worse off in real terms now than they were in 2010.

Compare these increases to the increase in profits made by the UK. In 2010 the UK IFRS profits increased by 12% and in 2011 they increased by a further 8%.

These positive UK results are achieved by the collective efforts of the whole workforce not just the 35% who are rated high performers. We believe the time has come to recognise everyone’s contribution by giving an across the board increase that allows employees to maintain their standard of living.

Equal Pay Audit & Allowance Review

UKIO have conducted a thorough Equal Pay audit and a review of allowances paid to employees. UKIO is one of the very few Finance Sector companies to conduct an audit and it showed there were no significant issues in relation to Equal Pay. The results of the audit and allowance review have been shared with Unite and we are currently reviewing them and discussions with the Company continue.

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PGDS Pay Ballot Result

Friday, January 20th, 2012

Please see below the final result of the PGDS pay ballot
Accept 88%
Reject 12%
Turnout 50%
Pay Deal
Merit pot of 3%
Ex Cap overtime cap to be removed
On Call Payments harmonised to PGDS standard rates

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