The Irish Bank Officials Association (IBOA) has stopped short of recommending its members vote in favour of the proposed new national pay deal but said today it was the “best that can be achieved”.
The union’s general secretary Larry Broderick said disappointment was expressed on many aspects of the deal today at a meeting of its executive committee.
“However in light of the ongoing crisis in the financial services sector both globally and in Ireland, the Executive Committee concluded that the terms on offer are the best available in very difficult economic circumstances,” said Mr Broderick.
He said the “consensus view” was that the only way the terms of the proposed deal could be improved upon would be through industrial action.
“Such a course would not necessarily secure any significant improvement. However, it would almost certainly result in significant disruption to the financial services sector and to the wider economy at a time of severe difficulty,” he added.
He said the union’s priority was to securing commitments from employers on job security, the protection of existing terms and conditions of employment, and a comprehensive review of business targets for staff in light of the dramatically changed circumstances.
IBOA members are to vote on the deal in a postal ballot which will take place over the next three weeks. The result of this ballot will determine how IBOA delegates will cast their votes at the Irish Congress of Trade Union Special Delegate Conference in November.
Under the proposed national pay deal, workers would receive increases of six per cent phased over a 21-month period. Low-paid staff would receive an additional 0.5 per cent rise. However, in the private sector there would be a three-month pay pause, while this would run for 11 months for those in the public service.
