To print: Click here or Select File and then Print from your browser's menu

This story was printed from silicon.com, located at http://www.silicon.com/

Story URL: http://management.silicon.com/careers/0,39024671,39129985,00.htm

Union hails Lloyds TSB and Fujitsu transfer terms
Employees to get benefit payments of up to £9,000…

By Andy McCue

Published: Friday 29 April 2005

IT staff at Lloyds TSB are set to complete their transfer to Fujitsu Services next week as part of the £170m outsourcing deal aimed at cutting costs and improving customer service.

Around 300 staff from the bank's group IT helpdesk will move across on 1 May and the trade union involved in the negotiation of transfer terms has hailed it as the "best so far" in any of the bank's outsourcing deals.

Amicus Unifi admitted that the deal for staff is still not perfect but said it was the best TUPE transfer it had seen at Lloyds TSB

The transferred IT staff have now been given access to Fujitsu's final salary pension scheme and compensation of up to £9,000 for losing Lloyds TSB's employee Sharesave scheme.

Bernadette Fisher, national officer at Amicus Unifi, told the staff in a newsletter: "Access to the defined benefits scheme and the possibility of transferring-in existing pensions is well in excess of even the recently strengthened TUPE legislation and still rare."