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Suncorp Bank Enterprise Agreement 2025

ANZ is trying to push through our new Suncorp Bank Enterprise Agreement, and time is running out to ensure we get a good deal.  

Suncorp Bank employees have waited almost a decade to renegotiate our pay and conditions. However, ANZ wants to limit negotiations by ‘harmonising’ to their agreement. We deserve an EA that reflects our needs and our culture. 

The devil is in the detail of ANZ’s offer. Importantly, they’re offering unacceptable pay rises that fail to address cost-of-living pressures, are asking us to work longer hours, and want less work flexibility.  

Without genuinely consulting our union, ANZ has now decided when they will put their offer to ballot.    

Now is the time to act! If we want to stop this proposal becoming our new Agreement, we must commit to voting 'no' when the time comes.

Here’s a sample of what ANZ is (and isn’t) offering:

  • Unacceptable pay rises that fail to address cost-of-living pressures, with only some colleagues eligible to receive a fixed increase while others are contingent on performance reviews.  
  • Implement ANZ’s classification structure, with gradings determining who is and isn’t entitled to conditions like fixed pay increases.  
  • Exclude Grade 1 – 3 employees from the agreement.   
  • Increase our working hours to 40 per week – though only Grade 5 and 6 employees will receive a one-time salary increase to compensate.  
  • Cap redundancy payments at 79 weeks, with no commitment to grandfather our existing entitlement. Many long-term employees could  miss out on many weeks’ worth of redundancy entitlements. 

Click here to view a full analysis of ANZ's offer and how it compares with what we are seeking.

Fixed pay rises

Hours of work

Redundancy

Suncorp Bank employees have spoken. Here’s what you think about our current conditions: 

76% feel their pay has not kept up with cost-of-living pressures. 

68% feel they are understaffed and can’t manage workloads. 

60% say they are not compensated for additional hours worked. 

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Authorised by Julia Angrisano, Finance Sector Union of Australia, Level 13, 380 La Trobe Street, Melbourne, VIC 3000.
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How we can help ?

I’m in! What’s the plan?

If AMP isn’t going to come to the table to negotiate our conditions with us, then we’ll need to force them.

And we will do that by securing a majority support determination (MSD). That sounds complicated, but all it means is that a majority of people working at AMP (or in a particular business area of AMP) vote to say they want to bargain – then AMP is legally obligated to negotiate. Of course, there are some legal hoops we need to jump through, but right now the most important thing you can do is click here to join us.

Now is the time to get as many of our colleagues involved and engaged in our campaign as possible.

Fixed pay rises

ANZ’s position (Grades 5 and 6) 

  • 3.5% (2025) and 3.5% (2026)  
  • Increases are subject to meeting performance and behavioural standards, and subject to the Lump Sum cap.  

ANZ’s position (Grade 4)  

  • No guaranteed increases. Employees will go through the discretionary Annual Remuneration Review process, with increases determined by factors including individual performance. 

FSU's position

  • All Suncorp Bank colleagues should receive a genuine, guaranteed annual pay increase that keeps ahead of cost-of-living, with eligibility requirements removed.  
  • ANZ's proposal fails to provide genuine pay certainty, with too much determined by discretionary and subjective processes.

Hours of work

ANZ's position 

  • Increase contractual working hours of full-time employees from 37.5 to 40 hours per week.   
  • For Grades 5 and 6, ANZ proposes to compensate this increase with a one-time 6.67% increase to base wage (ordinary time).  
  • For Grade 4, no compensation is proposed, with extra hours permissible as “reasonable additional hours”.  

FSU's position

  • Maintain current full-time week as 37.5 hours (the Fair Work Act defines a full-time week as 38 hours).  
  • ANZ’s proposal to compensate at ordinary rate undervalues the additional time, while reliance on “reasonable additional hours” to refuse additional compensation is ethically unacceptable. 

Redundancy

ANZ's position 

  • Replace Suncorp Bank’s accrual methodology with the ANZ accrual methodology.

FSU's position 

  • Grandfather existing Suncorp redundancy arrangements to ensure no disadvantage to long-tenured colleagues, where the Suncorp arrangements provide greater severance payments.

Click here to view a table comparing ANZ's redundancy offer with our current entitlements: