M&G Pay Claim 2021

Thursday, January 7th, 2021

As you are aware we submitted our pay claim to the Company in November last year.  We asked for an across the board increase plus a small merit pot to reward performance, plus a non-pensionable lump sum payment to help with increased utility costs.

Following negotiations the Company have now proposed the following final offer:

• Merit pot of 2.0% – for the makeup of our collective bargaining unit and Integration Leaders (G4 equivalent) (excluding PFP & Intermediaries).
• Minimum FTE Income for London & Reading based employees to be increased (equivalent of the London Living Wage) when announced.
• Minimum FTE Income for non-London & Reading based employees to be increased (in line with the Joseph Rowntree Foundation Minimum Income Standard) when announced.

The Company has also committed to offer a one-off non-pensionable lump sum payment to lower earning colleagues who are experiencing an increase in the cost of their usual utility bills that is greater than any offset saving in their usual commuting costs. We will work closely with the Company over the next 2-3 weeks to influence the approach they take to this and share more information with you as we get it.

It is now up to you, the members to decide whether you want to accept or reject the Company’s offer. Unite believes that this is not unexpected given the challenges faced in 2020, that this is the best possible offer that can be achieved through negotiation and given the current climate we would recommend acceptance.

Thank you for your support in 2020.

Posted in Pay | Comments Off on M&G Pay Claim 2021