We had some very productive discussions where management put an offer to settle the agreement to us. The area that remains inadequate based on your previous feedback for industry leading conditions is Superannuation. The management position is a step backwards from the status quo:
- For non-packaged staff, superannuation would be fixed at 13% for the life of a four year agreement. This would see your contributions of SGR + 3.5% effectively reduced by 1% over the life of the agreement, as the legislated SGR increases take effect.
- For packaged staff, superannuation continues to be paid at the minimum superannuation guaranteed rate. This is inconsistent with the public position of the Fund that superannuation must move to 12% as soon as possible, advertising of which you may have noticed currently on the Fund’s intranet page and TVs around the office.
Despite this, there are positive things about the offer. As it is your agreement, now is your turn to tell us what you think about the offer. A single member only meeting will be held:
Thursday, 10 October 2019
11.30am – 12:30pm
Swan and Murchison
Please RSVP to the meeting by clicking here.
This is a member only meeting, however we encourage you to speak to a colleague who is not yet a member. Ask them to join today and shape the next steps we take as a collective.
We look forward to seeing you all there.
Your FSU bargaining team
Nam Tran, Claire Heeps, Martin Schutz
Join the FSU for a stronger AusSuper: www.fsunion.org.au/join
Finance Sector Union
Ph: 1300 366 378