teachers mutual bank limited



If you are a long-term employee at TMBL, how do you feel about being left out from union negotiated annual salary increases?

Instead of increasing annual salaries, TMBL wants to introduce one-off lump sum payments to employees who exceed the upper pay threshold for their role. This threshold would be 120%, determined by market data. The impact of this will be felt mostly by long-term workers.

Using market data to determine your salary increase undermines your enterprise agreement. The data can potentially be manipulated and subjective. Employers can also refuse to share the data with individual employees.

In their communication to staff today, TMBL failed to highlight their plan to segregate a cohort of their workforce and prevent them from receiving a salary increase.

TMBL also failed to notify their workers that they are proposing to erode the current superannuation co-contribution entitlement.

It is hard to understand why an organisation like TMBL, which prides on being ethical, open and transparent would withhold sharing the full information with their employees, particularly when it relates to their workers’ terms and conditions.

Your FSU Worker Council has rejected TMBL’s proposal.

Union members and TMBL workers should also reject this unfair proposal should it go to a ballot.

The FSU’S position remains unchanged:

  • 3% wage increase in 2021 backdated to 1 July and paid in the first pay cycle after the all-staff ballot, if the proposed new EA is voted up by majority of workers
  • 3% or CPI wage increase in 2022, whichever is greater.
  • No to salary benchmarking to market data
  • No to changes to superannuation co-contribution.

The next bargaining meeting is scheduled for Wednesday 3 November.

We encourage you to share this update with your colleagues.

Your FSU Bargaining Team 

Authorised by Julia Angrisano, National Secretary