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Abbey: 3.1% paybill budget increase

Key details

  • Pay award: 3.1% paybill increase for individual merit rises, ranging from 2% to 6.3%

  • Employees covered (nos.): all staff below director level (14,240)

  • Effective date: 1 March 2007

Abbey has awarded merit rises from a 3.1% paybill increase to all staff below director level on bands A to D of its benefit band structure, effective from 1 March 2007.

Benefit bands

The four benefit bands correspond to seniority, with band D jobs representing higher responsibility levels.