Staff at the Central Bank

will move to a minimum 37-hour working week by 2015 if the recommendations from a three-person tribunal are accepted by both sides.

This is one of the key recommendations from the tribunal, which considered a wide range of issues, including increments, sick pay, voluntary severance, early retirement and fixed-term contracts.

Some Central Bank staff work just 32½ hours a week. This is proposed to rise to 37 (net of rest periods) on a phased basis out to 2015 and will bring these workers into line with the Haddington Road agreement.

The tribunal has recommended that increments be restored with effect from July 1st and that any pay reductions that have been implemented should be restored not later than January 1st, 2018.

A “limited” voluntary severance scheme is to be made available pending the outcome of the organisation review. The total statutory redundancy and ex gratia payment is not to exceed either two years’ pay or one half of the salary payable each year to preserved pension age, whichever is less.

On sick pay, uncertified sick leave will reduce from seven days in a rolling 12-month period to the same number of days over two years. From June 1st, next, it is proposed that certified sick pay be cut to three months full pay and three months half-pay in a rolling four-year period.

Sick pay for critical illness will be full pay for six months and half-pay for another six months.