The FSU has been in negotiations with NAB and the Consultative Committee on the terms of the new Financial Planners Agreement 2010.

A couple of key issues arising from the discussions include:

Compensation – the extent to which NAB can clawback variable pay, including whether:

•    omissions/errors should be included
•    there ought to be a cap on the deduction
•    whether the appeal mechanism needs to be reviewed

Fixed pay – whether there should be adjustments for CPI or at least a review mechanism for planners to be able to compare their total income to market data.

The FSU is also negotiating the Consultation, Flexibility and Disputes Procedures clauses in the proposed agreement to ensure they are in line with the new Fair Work legislation.

You should have all received information about the contents of the proposed agreement. We encourage you to provide feedback at this important stage to allow for your proposed changes to be considered and implemented prior to the new agreement going to ballot.

NAB has set up a dedicated email address that you can email – which is nab.fp.agreement@nab.com.au.

Also there are face to face sessions being run around the country:

WA   
12/03/2010   
The Academy, Lvl 2, 100 St George Tce Perth       
9:30am-12:00pm

QLD   
15/03/2010   
UG Business School Downtown MBA Theatre Room       
9:30am-12:00pm
1:00pm-3:30pm

NSW   
17/03/2010   
NAB House Lvl 28, 255 George St Sydney           
10:00am-12:30pm
2:00pm-4:30pm

VIC   
18/03/2010   
Etihad Stadium, Laureate Room, Dining level, Gate 6   
9:30am-12:00pm
2:00pm-4:30pm

SA   
19/03/2010   
22 King William St 4th Floor Training Room       
9:30am-12:00pm

In addition, if you wish to raise your concerns with the FSU directly, please e-mail fsuinfo@fsunion.org.au.

The next meeting between the FSU and NAB will be on the 24th March 2010. We look forward to hearing your views.