Have you been offered a settlement agreement under the Bank’s mutually agreed resignation scheme?
The Bank has recently confirmed out of 712 employees eligible a total of 493 applications have been accepted, under its mutually agreed resignation scheme (‘MARS’). Employees need to ensure they get specialist legal advice from an employment solicitor on their settlement agreement to check the severance terms are right for them and the terms regarding payments and bonuses are correct.
We provide fast legal advice for bank employees on their settlement agreement, from a specialist employment solicitor. Same day service and charges are fixed at the level the bank has agreed to pay. We make the advice process simple and smooth – with everything done by email calls and e-signing.
Expert legal advice for employees in the finance and banking sector on their settlement agreement.
John Hassells, Solicitor and Head of Legal at settlementagreement.co.uk
Start your Settlement today?
Call free 0800 861 1883 to speak to a solicitor. No cost to you.
Start my SettlementCommonly asked questions – Banking staff severance scheme (MARS) and settlement agreements
Nothing. The employer pays for you to obtain advice an independent solicitor. We guarantee to fix our charges to the amount the Bank pays. Once the agreement is signed, we send our invoice to the bank for payment.
The advice process is usually concluded the same day or next day from when you send us the settlement agreement.
Absolutely not. Everything can be done remotely, over email, phone or video call. When you’re ready to sign, we arrange electronic signing via DocuSign.
We specialise in this area of emploment law. SettlementAgreement.co.uk has been operating since 2013 and our Head of Legal is a qualified employment solicitor with over 20 years post qualification experience, advising employee including employees in the banking and financial services sector.
Call us on 0800 861 1883. Alternatively, book an appointment with a solicitor today.
Further information and reading
Settlement Agreements [A Guide for Employees]
Mutually Agreed Resignation Schemes [A Guide for Employees]
Bank of England Freedom of Information realease: https://www.bankofengland.co.uk/freedom-of-information/2026/mutually-agreed-resignation-scheme
Article by FS Tech: “Bank of England to lose nearly 450 staff in overhaul” – 10 March 2026
Banl of England – Minutes of the Meeting of the Court of Directors held on 9 December 2025
FOI request dated 20 January 2026 – “Redundancies under voluntary scheme announced December 2025“
FOI Response here. Note the Bank confirmed, inter alia, that “the Bank does not have a voluntary redundancy
programme. I am assuming that your intention is to ask about the Bank’s Mutually
Agreed Resignation (MAR) scheme which was announced in December.”
Legal Disclaimer
The contents of this article are intended to be for general information purposes only and do not amount to (nor are they intended to be) legal, tax or financial advice or a complete or authoritative statement of the law nor should they be treated as such. No warranty or promise is given, express or implied, as to accuracy of the information on this page and no liability is accepted for any error or omission. You should instruct a specialist employment solicitor to advise you on your particular situation and not act or rely on the information on this page.