TOFO:
That's the legal statutory minimum...its does not apply in most of the public sector, or indeed in quite a lot of the larger companies in the private sector. Nor does it apply in any case where an individual has better contractural terms than the minimum. In essence it's a catchall intended to give basic cover to the low paid in the private sector.
Absolutely. But it hasn't stopped the CS taking a big hit. The packages they were having at fairly low grades (EO, HEO) were very generous by my modest standards. The latest proposals would mean that an
SEO would get in the order of a year's pay, whereas a while back it mught have been £100k+ depending on length of service.
CG