Issue No.13 of 2009
Monday 15 June

Invest in Australia:
FSU reaches agreement with ANZ

The FSU’s campaign to secure Australian finance jobs has achieved a major victory with FSU and ANZ reaching agreement on the establishment of a $10m skills fund to assist employees affected by offshoring.

The skills fund is one of the components of FSU’s Invest in Australian plan, and ANZ is the first Australian bank to reach agreement with the union on this initiative, which is critical measure that will keep Australian finance workers in jobs. The FSU continues to oppose the offshoring of Australian jobs.

Enterprise bargaining between FSU and ANZ commences this week. Job security will be a focus of the negotiations, and the FSU will be seeking the inclusion of initiatives already agreed upon to be incorporated in an enforceable Collective Enterprise Agreement.

 Click here to read more about the FSU’s ANZ EB Claim and find out how you can get involved and have your say on your future employment conditions.

 Click here to read the joint statement from FSU and ANZ

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Unions welcome Government changes to Employee Share Schemes 

In response to widespread concern from FSU and other stakeholders about Federal Budget measure to alter taxation arrangements for Employee Share Schemes, the Treasury released a paper proposing to make further amendments to the Schemes. The FSU and other concerned unions responded jointly to the Treasury options paper, welcoming the Government’s change of heart, which will mean that the majority of FSU members participating in Employee Share Schemes will not be disadvantaged.

 Click here to read the joint union submission

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Health and Safety News: H1N1 Influenza (Swine Flu) 

In response to enquiries from members, the FSU has prepared an OHS information sheet on H1N1 Influenza (Swine Flu) for members to refer to.

 Click here to read more

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Productivity Commission Inquiry into Executive Remuneration 

The FSU’s submission to the Productivity Commission Inquiry into Executive Remuneration is now available online. The union has recommended greater disclosure of executive performance pay criteria and pay relativity ratios, and end to short term incentive payments, and the linking of long term incentive payments to corporate social responsibility outcomes.

The FSU are scheduled to appear before the Inquiry on 25th June.

 Click here to read the submission
 Click here to have your say on our online forum

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FSU in the news 

 Wage deals draw union ire
The Age, 29th May

 Call to go softer on tax breaks
The Australian, 6th June

 Unions back govt's share scheme changes
Sydney Morning Herald, 12th June
 ANZ spends $10m to offset offshoring
ZDNet, 12th June

 ANZ sits down with union after decade without talks
The Australian, 15th June
(Not available online. Check page 6 of today’s Australian newspaper for the full story)

ANZ Bank has agreed to negotiate a new enterprise agreement with unions for the first time in 11 years, in a fresh sign that Labor's workplace laws are forcing a shift in position from the nation's major employers.

Less than three weeks after Telstra dropped its year-long refusal to deal with unions, ANZ, which employs 20,000 workers, has confirmed it will start talks with the Finance Sector Union today.

The breakthrough came after a recent meeting between ANZ chief executive Mike Smith and FSU officials, including national secretary Leon Carter.

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Lost Superannuation 

Did you know 1 in 2 working Australians has a lost super account?
Over $12.9 billion in lost super belongs to more than 6.4 million Australians.

You could be one of them! Have you:

  • Changed jobs in the last 10 years?
  • Held more than one job at a time?
  • Changed your name?
  • Moved house or changed address?

The good news? Tracking down your lost super is easy!
 Click here to read more

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FSU Member Services – Saving you money! 

You’ve worked hard so enjoy the rewards.
Save on a range of magazine subscriptions today!

As a member of FSU, you will receive an additional 8% discount off the listed price on over 2,000 magazine titles.

With iSUBSCRiBE, you can save time and money and never miss out on an issue. It also makes for a great gift idea.

For further details on the titles available, visit and login by typing ‘FSU’,
or call Member Advantage on 1300 853 352.

Your Member Advantage discount will be calculated automatically in the purchase process and is not available in conjunction with any other discount or for the purchase of iSUBSCRiBE Gift Vouchers. The discount is taken off the listed price as displayed on the site. All prices are current and are subject to change without prior notice.

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FSU on Facebook 

Don’t forget to check out your union’s page on Facebook, and become one of our growing number of fans! Join a discussion and network with finance sector colleagues.
 FSU on Facebook

 Authorised by FSU National Secretary Leon Carter                     back to top