Hundreds of members of the Public and Commercial Services (PCS) union have settled their long-running pay dispute with The Pensions Regulator, with some staff receiving increases of 7.55% and average pay rises of 5%.
Brighton-based workers at the TPR took part in more than 60 days of strike action during their campaign of industrial action.
The PCS union says the majority of members will receive a rise of at least 6%, with several hundred lower paid staff receiving 7.55%. The average increase is 5%, according to the PCS.
PCS general secretary Fran Heathcote said: “This hard-fought and groundbreaking above-inflation pay outcome is just reward for our members who wouldn’t back down during their long struggle. We hope other employers will sit up and take notice that there really is power in a union.”
Strike action by members of the PCS at The Pensions Regulator was suspended in March to allow for negotiations.
As of March, the TPR employed about 930 staff. According to the PCS union, about 380 members took part in the strike action although the TPR disputed that, suggesting a figure closer to 200.
A TPR spokesperson said: “We are pleased to have reached a pay settlement for 2024-25, which is fair to our staff and prioritises those at the lower end of their pay band.”
Promote your vacancy to thousands of professionals on Financial Planning Jobs
Our specialist jobs service Financial Planning Jobs can help you reach nearly 12,000 financial professionals. You can set up an Employer Profile and post your job the same day on Financial Planning Jobs (terms apply). Dozens of Financial Planning and Paraplanning firms have used our affordable service to recruit new talent.