Here’s why Cbus’ proposal isn’t good enough

Cbus management are running briefing meetings to “get your feedback” on the EBA proposal as it stands right now.

FSU members have already voted unanimously to reject this proposal on the basis of its unevenly-distributed, below-inflation pay increases (among other concerns).

The union represents employee interests in this negotiation. So why is that not enough feedback?

Below are some more important points to consider and raise during your feedback session and conversations with colleagues (as well as this myth vs reality flyer, worth bookmarking and sharing around).

1. It is not fair to justify a proposal for our pay to effectively go backwards by citing Cbus’ strategic goal to drive down fees and grow rapidly.

One good investment made by our (industry-leading) team would more than pay for the difference between what we’re asking for and what we’re being offered.

If it were truly the case that committing to increases that kept our wages competitive against the cost of living was a genuine threat to the fund’s viability, then we would have far bigger problems than this EBA.

What Cbus is effectively saying to us is that we should do more for less: that we should meet new challenges as our pay goes backwards. We had our best year ever as a fund at the same time as many of us were experiencing our worst year personally.

The disrespect inherent in this very flawed argument is offensive.

2. Cbus is proposing different pay increases for staff at different income brackets — not only is this unfair and below inflation, it is a severe step backwards from the current EBA. 

In our current EBA, people paid more than $150K have a CPI+0.5% increase and those below $150K secured 3% per year.

So: management are proposing a more structurally unfair EBA, with slower relative wage growth for everyone. Off the back of our best year ever as a fund!

3. When the executive remuneration report comes out next year, will exec pay have gone up by more than the 4% we’re claiming?  

4. If the Workplace Coordinators can be paid 17% super (SG + 7%) why can’t everyone else?  

Cbus needs to continue to lead the way on super and instead of ‘absorbing’ Super Guarantee (SG) increases, all staff should be benefiting in the same way the Coordinators are by getting SG pus 7% in our next EBA.

Good conditions at work (like Superannuation) are WON, not granted. They’re won through solidarity and patience.

We’re asking you for both.

Your FSU team,
Bill Rue, Caroline Troup, Fiona Peck, Ian Wilson, Jennifer Glass

Authorised by Julia Angrisano, National Secretary