The Finance Sector Union will hold meetings around Australia next Monday to discuss the proposed new AustralianSuper enterprise agreement.

 

The FSU Representatives’ Committee will recommend that members accept the following proposed offer from management:

  • July 2012 – 4.5% salary increase
  • July 2013 – 4.25% salary increase
  • July 2014 – 4.25% salary increase
  • July 2015 – 4% salary increase (optional)
  • a new superannuation clause providing that AustralianSuper will pay 3% above the Superannuation Guarantee for all staff covered by the EBA  into AustralianSuper

 

An email ballot of members will be undertaken in the week beginning 6 August, required to authorise the FSU to become a party to the new agreement.

 

The union sets out the case for a three-year agreement rather than four years, maintaining that financial markets may be more robust in four years, and the guaranteed 4% “will sell us short”.

 

However, a four year agreement would lock employers into providing good existing conditions  and a new Coalition Government with Senate majority would be “likely to have punitive unfinished business with industry funds and likely to revisit individual workplace contracts (the old Howard Govt Australian Workplace Agreements under another name)”.