The Cen­tral Bank of T&T has reached a suc­cess­ful agree­ment with the Bank­ing In­sur­ance and Gen­er­al Work­ers Union (BIG­WU) for bar­gain­ing units one and three.

The ne­go­ti­a­tions, which cov­ered the pe­ri­od from Jan­u­ary 1, 2021 to De­cem­ber 31, 2023, of­fi­cial­ly con­clud­ed on Wednes­day with the sign­ing of the rel­e­vant col­lec­tive agree­ments by both par­ties, the Cen­tral Bank said in a news re­lease.

It said the col­lab­o­ra­tive bar­gain­ing process re­sult­ed in im­prove­ments in cer­tain terms and con­di­tions for staff rep­re­sent­ed by BIG­WU, in­clud­ing a six per cent gen­er­al salary in­crease over the pe­ri­od, im­prove­ments in cer­tain al­lowances, en­hance­ments to the mo­tor ve­hi­cle loan fa­cil­i­ty and the pa­ter­ni­ty leave en­ti­tle­ment up­on the birth of a child.