Since management announced their Enterprise Agreement (EA) redundancy proposal, FSU members have shared significant concerns over how this would impact them and their families if they were made redundant.
Members have expressed anger and frustration over this proposal, which includes a limitation of grandfathering ‘better than’ heritage arrangements to only the first six months of the EA and thereafter capping redundancy payments to 36 weeks (based on years of service).
This is not good enough!
Yesterday, your FSU bargaining team met with Insignia management to progress negotiations over redundancy. We presented members’ feedback, that this proposal was not good enough and we won’t accept a bad deal.
We also tabled a counter position to ensure:
- No one under a heritage arrangement (ie, NAB 2016 EA) is worse off,
- The removal of the grandfathering timeframe, and
- IOOF heritage members are not left behind by raising the redundancy accrual rate and cap.
We have also proposed that mature age workers (45 years and older) accrue redundancy benefits at an accelerated rate, in recognition of unique challenges they face in re-training and the job market.
Importantly, management acknowledged our feedback and are now considering our position, and we expect a response in upcoming negotiations.
Next steps – FSU report back session
We are holding online sessions to provide an update on our discussions and hear your input. These sessions are your opportunity to help guide our negotiations. Register today for the time that best suits you.
Tuesday 2 July, 8am (AEST)
Tuesday 2 July, 12pm (AEST)
Tuesday 2 July, 6pm (AEST)
These sessions are open to all Insignia colleagues so forward this email to your colleagues.
Can’t make a session? Please reply to this email with your questions or comments so one of our team can get in touch.
Not a member? Join today, so we can continue to work together for a fair Enterprise Agreement.