Following many representations from local staff working in Ulster Bank Branches the MP for South Down added his signature to a hard-hitting parliamentary petition, an Early Day Motion, condemning the actions of the bank in trying to pressure workers to sign the new contracts reducing their pension and conditions whilst trying to remove the workers’ right to proper representation throughout negotiations.

Further to this Eddie McGrady MP has also written to the Prime Minister and Mr John McFall MP Chairman of the Treasury Committee highlighting the unfair and unjust treatment of Ulster Bank workers at this time.

In response to this the Finance Union IBOA has welcomed the support of Eddie McGrady MP in its campaign to persuade senior management at Ulster Bank to end the two-tier culture that affects the pay and conditions of workers in Northern Ireland.

Authorised by the Chancellor of the Exchequer, Ulster Bank’s taxpayer-owned parent company, Royal Bank of Scotland has already granted low-to-mid salaried staff in Great Britain a 10% pay award without conditions attached, but Irish workers are being asked to commit to significant reductions in pension entitlements and conditions before they receive the same award.

IBOA General Secretary, Larry Broderick, said “The support of influential MPs like Eddie McGrady is vital. The issues at stake for workers in these negotiations are detailed and complex. Ulster Bank in trying to sideline their staff’s representatives is placing a heavy burden on their staff despite our overwhelming mandate (99%) for the IBOA to lead in negotiations. I would urge other Northern Ireland MPs to follow Mr. McGrady’s example and help bring this injustice against local bank workers to a swift end.”

Earlier this month Ulster Bank pulled out from a process of mediation and told Independent Mediator, Kieran Mulvey, that it would press ahead and put its proposals directly to staff.

Larry Broderick said: “Ulster Bank staff have been warned by management that a significant element of their pay – equivalent to 10% of their annual salary – is to be withheld unless they agree to sign up to a new inferior contract which will not only worsen their terms and conditions in future but will also dramatically reduce the value of their pension on retirement. This despite the fact that under current contracts these staff, most of whom are on mid to low range salaries between £11,000 and £22,000, are entitled to the payment.

“These developments give us even greater cause for concern as Ulster Bank has already shed 1,000 jobs North and South which have delivered considerable cost savings. In fact, Ulster Bank is the only retail bank across Ireland to have cut its permanent staff numbers so far during the crisis.”

ENDS

Note: IBOA The Finance Union represents almost 5,000 of Ulster Bank’s 6,000 staff on the island of Ireland.