(Reuters) – Royal Bank of Canada unveiled Monday a slew of benefits for employees, including a 3% increase in base salaries at the mid-year level of certain staff members to alleviate the financial pressure caused by an increase in living expenses.

This move comes as the nation’s largest bank makes a bold decision to increase digital capabilities in a sector that is struggling with rising inflation and a tight labor market.

RBC employees will have the opportunity to get a salary rise starting in July. Chief Executive Officer Dave McKay stated in a statement that RBC employees will be eligible.

According to the bank, they will increase fertility benefits, surrogacy, adoption and other services for families in Canada, as well as increasing contributions to pension plans for employees over two-years starting in 2023.

RBC reported that these investments amount to C$200million (154.76 Million).

($1 = 1.2923 Canadian dollars)