time off in lieu

(redirected from banked hours)

time off in lieu

A term for holiday/annual leave time taken instead of pay for extra hours worked. For GPs, TOIL is typically derived from the difference between average rostered hours and normal basic hours. Usually, the excess of the former over the latter is banked, and taken as time off.

References in periodicals archive ?

Instead, the company held, or banked, these hours until a later date when it paid them out as straight-time rates of pay either during workweeks when employees worked less than 40 hours, or when employees requested that they be paid their banked hours in a lump sum.

United States : U.S. Department of Labor Recovers $104,739 for Southern California Pool and Spa Construction Companys Employees

The pay deal also includes a 30 percent reduction in banked hours. This means that it will take employees less time to pay back hours banked during plant shutdowns.

Vauxhall awards 1.5 percent pay increase to 1,400 Luton plant employees

'The banked hours scheme has enabled me to work and store hours so that I can balance outside work commitments easier and without thinking that I am taking advantage of the company,' said Mr Prothero.

Another beneficiary of the banked hours scheme is Bernard Brown, also a conversion operative, who said: 'The banked hours scheme allowed me to have a much-needed family break last year after I had used up my holiday allocation.

Workforce: Right balance pays dividends

WORKERS at a Warwick-based company are enjoying an extended weekend through a "banked hours" system.

"To maintain efficient use of time, the company has taken the decision to allow a number of employees to use their banked hours and to take two days off.

"As UK market leader, Dennis Eagle has seen an intensive period of work over the past two years, and employees have a high number of banked hours to utilise.

Workers bank a longer break

The company has offered 2.5 per cent on pay and a cut from 200 hours to 140 hours annually on 'banked hours'.

The banked hours part of the agreement operates under the flexible working agreement introduced by BMW in 1999 before it sold the company last year to the Phoenix consortium.