Happy pay day for Westpac employees
Thursday, 7 January 2016
Caption: Pay rises secured and paid!
The annual pay increases negotiated as part of the Westpac Group Enterprise Agreement 2016 are due to be paid to staff today.
Today’s pay rise, which delinks targets from annual pay increases, is a result of your participation in the campaign for a new Enterprise Agreement to deliver secure pay outcomes.
This year staff who are eligible# to receive an increase will get the following:
Tier 1: $0 to $75,000 - 3.5%
Tier 2: $75,001 to $100,000 - 2%
Tier 3##: $100,001 to $150,000 - An increase from a 2% pool of funds to be distributed based on performance
#Eligibility criteria is as defined in the Westpac Group Enterprise Agreement 2016
##The commitment for tier 3 pay increases are outlined in a side letter arrangement
During 2016 we will continue to work closely with FSU members to ensure the improved conditions negotiated as part of the Agreement are implemented.
As the new Agreement is progressively implemented, St George, BankSA and Bank of Melbourne staff will notice changes on payroll systems relating to moving to 152 hours, leave accruals and fortnightly pay divisor.
FSU have raised concerns with Westpac about reports from members regarding inconsistencies with sick leave accruals on the current pay slips. Westpac is working on fixing this problem.
Keep an eye on your pay slips and be sure to keep copies in case you have any questions or concerns.
Don’t forget to talk to your line manager and if you need further information about either your pay increase or conditions, contact our Member Rights Centre on 1300 366 378.
Authorised By: Fiona Jordan, National Secretary