Remuneration & Benefits 

Remuneration & Benefits

Our remuneration and policy is informed by the general Public Sector pay policy. We offer good base pay plus a comprehensive range of benefits including a defined benefits pension scheme and generous annual leave that are designed to create a total remuneration package that attracts and retains employees to the Bank.

The Central Bank Commission is responsible for setting the employment and remuneration terms and conditions for employees of the Bank. Since 2009 the Central Bank has been covered by Financial Emergency Measure in the Public Interest (FEMPI) legislation which introduced the Public Sector Related Deduction (PRD) pension levy and salary reductions.

We are currently designing a new, more flexible reward model which, coupled with our move to our new offices in North Wall Quay at the end of 2016, will enable a modern and progressive organisation which rewards and recognises the value of every role in our organisation.

 

Our Salary Scales

Salary on appointment is linked to knowledge, skills and experience relevant to the role. It may, on occasion, be higher than the first point on the salary scale. Annual pay progression within the salary scales is based on satisfactory performance and subject to the FEMPI legislation.

 

Our Pension Scheme

A defined benefits pension scheme is available to new employees who become members of a Career Average Re-Valued Earning (CARE) strand of the Scheme. Employee pension contributions average 6.5% of salary. Benefits and contributions are paid subject to the rules of the Scheme and applicable Civil Service Rules.

 

Our Leave Policies

We support a wide range of leave policies including those outlined below:

 

Other Staff Policies

A range of other staff policies apply as set out below*.

*All policies are subject to on-going review and updates.

Additional information on staff policies and remuneration is available here.