Lloyds Pharmacy has offered three per cent increase in base pay backdated to 1 April for its store pharmacists, the union of Pharmacists’ Defence Association (PDAU) who represented them has announced.
“We are pleased to announce that following a consultation of its members, the PDAU has informed the company that agreement can be reached on the company’s latest offer, made in July 2022,” said the PDAU.
The offer made by the company also includes introduction of an overtime rate of 1.5 times basic pay for each hour worked after contracted hours. This will run for a trial period and be reviewed as part of the next pay round.
“All pharmacists will receive an initial £1,000 payment under the proposed LTIP scheme, paid in April 2024. This will be to all in the bargaining unit and will not be dependent on meeting any criteria such as targets,” said PDAU.
“In addition, the company will introduce a Long-Term Incentive Plan which will see additional payments made to those paid under any existing bonus arrangements.”
Kevin Birch, chief retail officer at Lloyds Pharmacy, commented: “Our pharmacists are really important to us, and we are delighted to reach an agreement with them through our discussions with the PDAU. This is the first round of pay negotiations between Lloyds Pharmacy and the PDAU and we are pleased with how the process has worked and that we have ultimately reached a mutually agreeable outcome.
“This pay offer will see all eligible pharmacists receive an increase in their base pay, as well as overtime rates. We are also delighted to be introducing a market-leading long-term incentive plan that will give colleagues the opportunity to significantly enhance their earnings, by sharing in the success of the branch they are working in and their loyalty and tenure with Lloyds Pharmacy.”
Paul Moloney, PDAU national officer and lead negotiator, commented: “We welcome this agreement, the first of its kind between the PDAU and LloydsPharmacy and place on record our acknowledgement of the company’s efforts to work with us to achieve this agreement. Although falling short of the current inflation figures this nevertheless represents the highest increase many members will have seen in recent years.”