Accord Union and LBG agree important improvements for working families

Lloyds Banking Group (LBG) has listened to members’ views and agreed to make some significant improvements to maternity, adoption, paternity and shared parental leave and pay.

The changes will mean that around 6,000 colleagues across the Group will be better off each year.

Here’s the key headlines that will apply to colleagues from 1 October 2018:

Maternity and adoption pay will improve from:

• 7 weeks at full pay to 20 weeks at full pay
• Followed by 19 weeks at statutory rate*

Paternity leave and pay will improve from:

• 2 weeks leave at full pay to 6 weeks leave at full pay

Shared parental leave and pay (created from any remaining maternity or adoption pay and leave) will be simplified and improved from:

• A proportion of each available pay rate being paid (averaged over the number of weeks being taken), to partners being able to have up to 20 weeks at full pay (inclusive of paternity pay) and the remaining weeks at the statutory rate*.

*currently £145.18 per week

Paula Tegg, Accord’s assistant general secretary, said:

“Our members asked us at this year’s conference to talk to Lloyds Banking Group about improving maternity, adoption and paternity pay and leave. So, we’re pleased to announce some significant improvements to those policies and to shared parental leave too.

We’re pleased with the improvements and will continue our positive engagement with the business on these issues. We believe there is still scope to improve maternity pay, which still falls short of the best that’s on offer elsewhere. But for what’s been announced today, a thumbs up that LBG is listening.”

For further details about the announcement, read LBG’s interchange message and a supporting FAQ document.

Any queries should be referred to info@accordhq.org.

Originally published at accord-myunion.org on September 27, 2018.