January 25th, 2010

Unite are balloting it’s members in UKIO on the Company offer for the 2010 Salary Review. The full communcication is below.
The ballot runs from 21/1/10 until 3pm on 28/1/10.

Unite and UKIO have now concluded the pay talks for the 2010 Salary Review which covers Grades 1 – 3. Following consultation with our members, Unite’s claim included a pay pot above RPI, increases in maternity pay, introduction of an evening meal allowance for people who finish work unusually late, review of Car Allowances and improvements to annual leave.
The Company stated that with the current economic climate and the Group’s focus on maintaining cash and capital that providing money for the pay review remained difficult this year.
As a result , the Company’s final offer for this year’s pay pot is 2% for Grades 1-3. Distribution will be aimed towards those people who are rated effective or better and who are below the median salary for their role, with those rated 1 or 2 receiving more. Anybody above their pay scale will not receive a lump sum payment as part of the Salary Review regardless of their performance rating. Unite believe 2% will be slightly above the median of pay settlements.
The Company have also agreed to improve maternity pay with effect from 1st Jan. They will now pay the first 15 weeks at full pay (up from 10 weeks) and the remaining 24 weeks will be paid at the lower rate of Statutory Maternity Pay. They will also pay anyone currently in their first 15 weeks of maternity pay on 1st January this new improved rate. Adoption pay also improves in line with maternity pay. Unite are pleased with this as we have argued for a couple of years that Prudential, whilst paying more than the Statutory minimum had fallen behind the market. This new rate, whilst not going as far as we would have liked, is a welcome improvement.
You may have also seen that the evening meal allowance guidelines have also changed with effect 1st January allowing occasional late finishers who are away from their normal place of work on a business journey, working later than usual, finishing work after 8.00 pm to claim up to £15 (receipted) for an evening meal, where such a cost is incurred (you are not entitled to claim a late finish if it is part of your normal working pattern). Previously, you could only claim an evening meal if you stayed away from home. This change brings Prudential in line with Inland Revenue guidelines and again is a welcome introduction.
The Company did review the Car Allowances but have said they will not change them as the rates are competitive when you take into account the total “reward” package of those individuals in receipt of the allowance. Unite are disappointed with this view and still believe these allowances are not in line with the market. However, we did agree that any money available should be put towards the pay pot and not diverted to increase this allowance.
Finally, the Company rejected our claim for an additional 2 days annual leave to move some way in line with the government increase to the level of statutory holiday entitlement. They have, however, agreed to discuss how the holidays can be better managed over the Christmas period to ensure everyone is treated fairly at this time of the year. We have also been pleased with the discussions around the disruption caused by the snow which has meant that fair consideration has been given to individuals unable to get to the office due to transport problems and school closures etc. A more consistent approach should result.
The union understand that this has been a difficult pay round and whilst the proposal is not as good as we would have liked, we have seen some improvements to terms that we have been looking for sometime. We also believe the proposal is in line with other settlements in the Finance Sector.
It is now up to you to let us know whether you accept or reject the proposal. To do so simply click once on the relevant button below.
If rejected the Company have stated that they will be unable to increase its offer and the offer on the table would be imposed. Clearly then our members would need to decide what action to take, if any.
Unite are holding members meetings in Reading on Monday 25th January, in the Staff Restaurant between 3pm – 4pm and in Paddington on Thursday 28th January, Room 7J between 12.30pm – 1.30pm to discuss this and any other issues you may have.
To re-cap, you are voting on the following:
A pay pot of 2%
Improvements to Maternity (and Adoption) Pay
Introduction of evening meal allowance for people who occasionally finish late (after 8.00 pm)
The ballot is now open and will close at 3pm on Thursday 28th January 2010.

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