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The Finance Sector Union (FSU) has urged its members to reject an enterprise agreement that would see staff at life insurer Acenda paid less, stripped of basic leave entitlements and given watered-down redundancy clauses.  

Acenda management’s offer follows the brutal axing of 280 jobs at the company in the last 18 months and claims that some staff haven’t received a pay rise in seven years.  

The enterprise agreement is the first for Acenda since it was created by the merger of MLC Life and Resolution Life in October 2025.  

Under the proposed agreement, less than half (47%) of Acenda staff would be guaranteed a pay rise, many would lose Rostered Day Off entitlements, there would be no guarantees regarding work from home or hybrid work arrangements and new starters would be worse off when it comes to long service leave and redundancy provisions.   

The FSU has encouraged staff to vote ‘no’ and called on management to work with staff and the union on an improved offer that ensures guaranteed pay rises for all staff, retention of RDOs and guarantees new staff are no worse off than existing staff.  

The ballot begins next week and runs until Friday (June 22-26).  

Acenda is owned by Japanese insurance giant Nippon Life.  

Finance Sector Union National Secretary Julia Angrisano said:  

“Acenda was once the industry leader in its flexible work arrangements and attracted staff from the regions with the promise that they could work from home. 

“Now those same staff are going to be forced to choose between arduous commutes or leaving the business.  

“This will in turn make it harder to attract top talent and ultimately dilute outcomes for customers, many of whom turn to Acenda for help after the loss of a family member.  

“Acenda’s workforce is better than the value the company is placing on them and they deserve an agreement that reflects the reality of the modern workplace.” 

Anonymous quotes from Acenda workers:  

“I moved from Sydney to a regional town because Acenda promised me that I would have that flexibility. Now I am being told I need to go back into the office I am being faced with a choice of leaving my job or leaving a place where I have community.” 

“I haven’t had a pay rise in three years and I know people who haven’t had a pay rise in even longer. The proposed agreement won’t guarantee me a pay rise, it makes me feel that Acenda doesn’t value my skills.” 

“Being able to have rostered days off helps me be able to spend time with my partner and children. To take that away for a pay rise that probably is not going to be higher than inflation is not good enough.” 

Media contact: Sam Burgess – 0434 165 630 or [email protected]