Lloyds TSB: 4% paybill budget increase
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Key details Pay award: 4% paybill increase for merit rises Employees covered (nos.): all staff (65,000) Effective date: 1 April 2006 |
Merit rises from a 4% paybill increase have been awarded to 65,000 clerical and managerial staff at Lloyds TSB, effective from 1 April 2006.
The budget increase was split, with 3% allocated for merit awards, and 1% set aside to uplift salaries of those staff who were fully effective in their role, were below the market zone and had been in their role for two or three years dependent on grade.
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