Group Performance Share (GPS)

Lloyds Banking Group operates a Group Performance Share plan which distributes part of the group's profit back to colleagues when business performance objectives are met for a financial year. The GPS scheme replaced a previous bonus scheme and is non-contractual.


Details of any GPS award will be made available following the publication of the bank's full-year results.


Eligibility:


  • You must have joined the bank on or before 1st October in the financial year the award relates to and worked a minimum of 3 months.
  • To receive an award you must not be under normal notice (resignation/career break/termination by mutual agreement) on or before 1st March in the year the award is paid and still be employment on the 20th March.
  • The business will grant an award for colleagues leaving the business through redundancy, retirement (including ill health early retirement), TUPE and death in service.
  • Automatic reductions may be applied for periods of leave during the financial year. In some situations a manager may have discretion to override an adjustment for certain types of leave. Full details of the types of leave this applies to, and the discretion a manager may have are contained within the bank's policy.
  • You will be ineligible for an award for the period of any disciplinary sanction (6/12 months i.e. any award may be reduced by 50% or 100%). If you're awaiting an outcome of a disciplinary hearing, your award will be suspended until a decision has been issued.
  • You will not receive an award for any period during the financial year where you have been under a formal performance action plan.
  • If you're a temporary worker or contractor you may be eligible for an award if you are in scope of the Agency Worker Regulations - e.g. employed via PAYE or via an umbrella company. This will be paid via the Agency subject to Agency Terms & Conditions. If you started as a contractor/temporary workers and secure a permanent position within the bank, you may be eligible for an award as a LBG employee and as an agency worker. In both cases, there must be a minimum of 3 months continuous service.


View the full policy for more details.


Appealing an award:


There is an appeal process to review GPS decisions applied to you. The process may change from year to year.


Some general information to note:

  • You can't challenge the GPS policy criteria, you can only ask for a review of how the policy has been applied to you.
  • There is a a defined period of time for you to ask for a review.
  • Any decision made during the independent review process are final, there won't be a further right to appeal.
  • In cases of alleged discrimination, bullying or harassment, you may be contacted further by the bank's Resolutions team to discuss how to take forward your complaint.


You can find the full appeals process in our article Appealing Group Performance Share (GPS) awards.

Performance bonus, variable pay

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