Ulster Bank Union members narrowly vote to accept terms of transfer from Ulster Bank to AIB. 250 jobs saved with staff to begin transfer in July.

Ulster Bank Union members narrowly vote to accept terms of transfer from Ulster Bank to AIB.

250 jobs saved with staff to begin transfer in July.

Ulster Bank staff who are due to transfer to AIB have narrowly voted to accept the terms negotiated between the FSU and AIB.

According to the FSU the vote was very close, and the tense negotiations brought into sharp focus the differences in benefits available in Ulster Bank compared to the three main retail Banks in the Republic of Ireland.

Gareth Murphy, Head of Industrial Relations, and Campaigns with the FSU said:

“The vote by the members to accept the terms concludes months of intense and difficult negotiations between the FSU and AIB.

We believe these proposals, agreed today by our members, best protects members working conditions in the move to AIB.

The agreed deal protects jobs, retains many existing working conditions, and enhances others. It provides certainty on pension entitlement into the future, protects existing working hours and gives certainty on pay. “

John O’Connell, General Secretary of the FSU commented:

“This is an important step in the process of transferring staff with their work and involved long and protracted negotiations which centred on key points such as pensions and benefits.

Benefits which are available to all staff in Ulster Bank but are not currently available in the main three retail banks due to Government restrictions imposed after the crash added a layer of complexity to the negotiations and was a point of concern for our members. It highlights the need for ordinary workers remuneration to be considered separately from that of CEO’s and executives.”

In total nearly 250 staff will transfer from Ulster Bank to AIB. The first tranche of staff will begin to transfer from Ulster Bank to AIB at the end of July.

ENDS