Nationwide workers set to receive huge £1.2k bonus to help with cost of living

Employees at Nationwide are set to receive a huge bonus to help with the cost of living crisis.

Around 11,000 members of staff are due to get £1,200, according to the high street building society.

It comes as inflation hits 9.4% and household bills are predicted to surge about £5,000 by January 2023.

READ MORE: Brits spending less money on food in cost-of-living crisis – but still dining out

The bonus will not be given to anyone in the company who earns £35,000 or more.

But about 61% of its staff base are estimated to be entitled to the help.

Those eligible will receive the payment in two equal halves with one £600 arriving in October and the other in December.



The move is to help Brits during the financial crisis
(Image: Getty Images/iStockphoto)

Debbie Crosbie, chief executive officer at Nationwide, said: “The months ahead will be worrying for many people.

“We’re always considering new ways to help our members, but rising prices affect our colleagues too.”

Nationwide is not the first to support its staff during the cost of living crisis.

HSBC, Barclays, Lloyds, NatWest, Santander and Virgin Money have announced payments for their workforce.



Banks are helping to support low-income households
(Image: PA)

Around 35,000 Barclay staff members received a £1,200 pay rise, while HSBC junior employees are set to get a £1,500 bonus.

Lloyds is offering £1,000 to over 64,000 members of staff, while is 99.5% of the bank’s workers.

Meanwhile, NatWest workers who earn less than £32,000 across the bank will receive an additional 4% salary increase.

According to Reuters, some 11,000 Santander employees would receive a 4% pay rise.

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