Thanks to you and your union colleagues sticking together, Cbus staff have secured better, fairer pay increases.
After a meeting of union members on Friday endorsed a revised pay proposal, we have reached in-principle agreement with Cbus on our new EBA.
So what did we win by sticking together and pushing for a better deal through our union?
Better, fairer pay increases
Cbus’ first pay offer to the FSU was below the current rate of inflation and divided Cbus employees into two tiers, with just 2.5% for staff earning above $150k.
By standing together, we won:
- Non-packaged employees: 3.8% 1 July 2021 (back paid), 3.25% 1 July 2022, 3.1% 1 July 2023
- Packaged employees: 3.8% 1 July 2021 (back paid), market-based review pay increases in 2022 & 2023
- $150k threshold abolished for pay increases – same pay increases for all non-packaged staff
New and improved leave entitlements
Our FSU Log of Claims proposed some generous and progressive improvements to your leave, most of which are now – thanks to union members – part of our EBA:
- Paid parental leave increased from 16 to 20 weeks
- Super will now be paid on all unpaid parental leave
- Bereavement leave increased to 5 days each occasion
- Unlimited domestic and family violence leave
- 4 weeks paid and 48 weeks unpaid gender transition leave
- 52 weeks unpaid Grandparents’ leave
- 12 days menstrual and menopause leave
- 5 more days off. Our claim to extend a total of 12 RDOs to everyone resulted in a compromise: everyone will now be able to unlock 5 days of their 10 days additional carer’s leave to use as “flex leave” (basically an RDO)
Investments team remain in our EBA
Cbus management began these negotiations by wanting to remove the investments division from the benefits and protections of our EBA and put them onto individual contracts. Union members ensured that our colleagues remained in the agreement!
Communication and respect
We deserve to be involved in decisions at the Fund that affect us and our jobs. That’s why we have negotiated:
- A more genuine consultation process – Cbus employees will be consulted on proposals for major changes, rather than only being consulted once a decision has been reached.
- A simpler dispute resolution procedure – a fairer, easier way for Cbus staff to enforce their workplace rights.
We have achieved a lot by sticking together, negotiating as a collective and standing up for our worth as Cbus employees.
We will keep you updated on the progress of finalising the drafting of our new EBA and putting it to a vote.
Now is the time to ask your colleagues to join the union!
Show them what we’ve just won, and that union fees are just a fraction of the pay increases they’re about to receive!
Your FSU Team,
Bill Rue, Caroline Troup, Fiona Peck, Ian Wilson, Jennifer Glass