This week we receive our salary increase for 2022 as provided by the Reserve Bank of Australia Enterprise Agreement 2021 (RBA EA). All of us who are covered by the RBA EA salary arrangements will receive a 4.7% increase to our base pay – this is made up of the July wage price index figure plus an additional 2%.
This increase was an improvement on the initial pay proposals by management during the 2021 EA negotiations and made possible because of FSU member engagement with the bargaining process. Congratulations to all members who got involved last year by providing feedback to our union representatives, talking to colleagues about the important issues, and attending union meetings at critical stages.
What’s next?
The RBA EA expires in the second half of next year (2023) which means that the next salary increases, usually scheduled for September each year, are yet to be negotiated. Next year will be a particularly important bargain when you consider the current community and political call for higher wages in our economy.
In the coming months we will be seeking FSU member feedback on what’s important to all of us at next year’s negotiations. In the meantime if you have any questions or wish to play a role in supporting a better RBA EA outcome, please leave your details and feedback using the button below.
Click here to provide your feedback
Rate Notice
Your union membership is the way you join with millions of other Australians who have each other’s backs. This year, FSU membership fees will increase by 3 percent. The new rates have been timed so that it coincides with your RBA pay salary increase this month.
Joining FSU is inexpensive, and the fees are tax deductible – which can add up to quite a saving. When combined with the discounts from Member Benefits, and the increase in collective power for all workers, being a member has never looked better!
From your FSU Committee in RBA