We recently met with MUFG Corporate Markets management (previously Link Group) where they presented their position on pay and other key items.
Below is a summary of their current proposal.
All eligible employees will receive a minimum 2% pay increase in the first year and a minimum 1.5% pay increase in the years after. You may also be eligible for additional payments of up to 3.5% in 2024 and between 2.5% and 3% in the following years of the Agreement.
In addition, employees will receive a 0.5% increase to their superannuation.
This pay position is far below industry standards and represents a real wages cut over the life of the Agreement.
Increase redundancy entitlements to a maximum of 28 weeks.
Inclusion of one day of wellbeing leave.
Allow for time in lieu where people work a public holiday in the Agreement.
Superannuation will be paid on the paid portion of parental leave (the current parental leave entitlement is up to 20 weeks of full pay for the primary caregiver).
Management will remove requirements for evidence to be provided for domestic violence and family leave.
Do you think this proposal is good enough? Send your feedback and questions to FSU Organiser Sarah Tam-Perez on 0434 321 782 or [email protected] and tell us if you think this offer is good enough.
Keep an eye out for further updates as negotiations progress.
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