At this week’s negotiations Zurich presented an initial pay and conditions proposal for our 2024 Enterprise Agreement. Our FSU representatives are concerned that this initial proposal from Zurich doesn’t stack up to pay and conditions offered to our other industry colleagues.
Zurich have proposed to lock in a pay increase over three years which continues to rely on the discretionary performance pay arrangements currently in place. In addition, only a portion of staff (below TEC of $90K) would receive a guaranteed increase of 3% in year one, 3% in year two and 2.5% in year three. This proposed pay increase falls short of the rising cost of living currently impacting all of us.
Join one of our urgent FSU meetings on Tuesday 31 October, 7pm (ADST) OR Wednesday 1 November, 12:30pm (ADST) to hear the latest details and what we need to do to win what we deserve
The meeting has now passed
Zurich have also proposed a number of other changes to conditions in order to bring Zurich employees and ANZ/OnePath employees under one common Agreement. These include changes to hours of work, flexible working arrangements, leave entitlements and loadings. Senior Leadership remain outside Zurich’s proposed Agreement meaning you would no longer be protected.
Make sure you’re aware of the details and informed of next steps by registering for one of our urgent FSU Zoom meetings this coming Tuesday and Wednesday.
The next phase of this bargaining process will be critical and we’ll need to keep standing strong to achieve a better outcome. If you aren’t already a member, join today.
In unity,
Your FSU Team
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