The Fair Work Commission (Commission) has declined to extend your AMP-GIO Enterprise Agreement 2000 (Enterprise Agreement).
Register for one of our next steps meetings – see links below.
The FSU made an application to the Commission last year, seeking an extension of your Enterprise Agreement before it was due to automatically terminate on 7 December 2023. We did this because AMP refused to bargain for a new and modern Enterprise Agreement and to preserve some of your current superior terms and conditions until a new agreement could be negotiated – including but not limited to redundancy entitlements.
The Commission assessed the Enterprise Agreement against the Banking, Finance and Insurance Industry Award (BFI Award) and found that despite there being some superior conditions, overall, employees covered by the Enterprise Agreement ‘would not be better off overall’ under the Enterprise Agreement than they would be if the BFI Award applied.
In the decision, the Commission set 27 February 2024 as the date your Enterprise Agreement will terminate.
This means from 28 February 2024 your employment terms and conditions will be underpinned by minimum award conditions contained in the BFI Award.
Even though AMP provided an undertaking to the Commission to maintain existing redundancy and long service leave conditions, it will only be until 6 December 2024. AMP refused the FSU’s request to protect those entitlements in contracts. In its decison the Commission commented that it would have been ‘preferable’ for AMP to do so.
But then what?
Redundancy pay under the current Enterprise Agreement is capped at 104 weeks but under the BFI Award it is capped at 16 weeks! That’s a massive difference.
There is now the opportunity to apply for a majority support determination to force AMP to bargain for a new enterprise agreement. What does this mean and how does it happen? Come along to one of the following meetings, invite your colleagues too and find out how we achieve this.
Wednesday 21 February, 7pm (AEST)
Thursday 22 February, 3.30pm (AEST)
The Fair Work Commission’s (FWC) decision is here.
Please forward this update to your workmates and ask them to attend a zoom meeting with you. If you’re not already an FSU member you can join here.
If you require immediate assistance or would like to speak to an FSU official, reply to this email today.
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