Labour Court recommends talks on 3% pay claim at First National Building Society

In 1995, the Labour Court recommended meaningful negotiations between First National Building Society (IBEC) and the Services Industrial Professional Technical Union on the union’s claim for a 3% pay increase under Clause 3 of the PESP. The recommendation was signed on 27 September 1995. The union linked its claim to increased workload after the society’s merger with Irish Life Building Society and said employees had contributed to its success. It cited a 15% rise in pre-tax profits in the first half of 1995 and a net surplus increase of more than 24%. The society argued that prior pay increases had compensated staff for changes and that further costs could weaken its competitive position. The Court said negotiations should consider competitiveness, flexibility, change and employees’ contribution.