Cbus issued template Individual Contracts and an FAQ document (that we’ve added some notes to) to the Investment Division.
This proposal affects all of us by seeking to split up the fund and reduce our bargaining power now and into the future.
Our previous update about that, and about our concerns that Cbus aren’t bargaining in good faith is here.
As well as the fundamental concerns we’ve already raised about the proposal, Cbus’ draft contract template contains some pretty alarming terms:
- The contracts would allow Cbus to satisfy any future increase to the Superannuation Guarantee by a reduction to base pay – yes, you read that correctly. The Industry Super Fund that we work for has drafted in a clause that would allow them to reduce someone’s base pay in order to satisfy a future mandated increase in Super. This may well never actually be enlivened, as the increases aren’t currently mandated beyond 12% – but how can Cbus even write this possibility into contracts?
- Cbus will have almost total discretion to vary people’s duties and location of work such that they could potentially avoid paying redundancies where people would otherwise be entitled (by making huge variations to the job such that someone would not be able to remain in the role but would have no right to redundancy).
- Cbus will have total discretion over pay – no CPI or negotiated yearly increases.
- Cbus grant themselves extraordinary rights to surveil people in the workplace.
If we allow these types of conditions of employment to gain a foothold anywhere in the fund, you can expect to see the rot spread over time.
We will continue to resist this proposal in every way possible.
At this stage Cbus have told us that its their preference to engage directly with Investments for another two weeks before they’ll be in a position to engage meaningfully with the FSU either way on this proposal.
We intend to pursue our good faith bargaining concerns in the Fair Work Commission – Cbus should not be misrepresenting their proposal to the Investments Division, nor withholding detail from the union in negotiations that is simultaneously being put to members in a way designed to undermine negotiations elsewhere.
In the meantime, we will conduct another Cbus Investments Individual Contracts info session on Monday 18 October at 3pm (AEDT) – all are welcome. The next day is our Pay, Superannuation and Transparency workshop as well.
We encourage you to sign the petition to save RDOs if you haven’t already!
Your FSU Reps
Bill Rue, Caroline Troup, Fiona Peck, Ian Wilson, Jennifer Glass